Rupee climbs to 96.65 per dollar in early Friday trade

Rupee climbed 23 paise to 96.65 per U.S. dollar in early trade on Friday, October 9, 2026. The currency opened at 96.74 before gaining ground to 96.65, marking a rise from the previous close. Traders attributed the move to a modest softening of the dollar index and what they described as possible intervention by the Reserve Bank of India. The dollar index slipped to 102.03, about 0.10% lower, while Brent crude fell 1.09% to $103.14 a barrel. Earlier, the dollar index had dipped to around 102 levels after President Donald Trump said any attack on Iran would come only after the U.S. mid‑term elections. Despite the uptick, analysts warned that ongoing geopolitical tensions and steady foreign portfolio outflows continue to pressure the rupee. On Thursday the rupee had fallen 13 paise to close at 96.88. Anil Kumar Bhansali of Finrex Treasury Advisors noted that a strong dollar index near 102.50, Brent prices above $104, and foreign fund withdrawals kept demand for dollars high among oil marketers and importers. In the domestic equity market, the Sensex rose 292 points to 71,876.10 and the Nifty gained 84.60 points to 22,310.40. Foreign Institutional Investors sold equities worth Rs 12,943.58 crore on a net basis on Thursday.

Context

The rupee often mirrors changes in the U.S. dollar index and global oil prices because India imports a large share of its oil. The Reserve Bank of India sometimes steps in to curb sharp falls in the currency. Persistent foreign fund outflows from Indian equities add further downward pressure on the rupee.