The Indian rupee surrendered thirteen paise against the United States dollar to settle at an all-time low of 96.88 at the interbank foreign exchange market. Persistent downward pressure stemmed from aggressive dollar purchases by public sector oil marketing companies responding to Brent crude prices scaling past hundred dollars per barrel.
Currency traders observed relentless institutional capital outflows from domestic equity counters, alongside broad-based dollar strength following hawkish commentary from the United States Federal Reserve. While state-run commercial banks intervened intermittently via dollar sales on behalf of the Reserve Bank of India, heavy importer demand absorbed available supply throughout the afternoon session.
Forex analysts noted that widening trade deficit figures and escalating overseas freight costs are creating difficult headwinds for the domestic currency unit. Market participants expect the central bank to utilize its foreign exchange reserves judiciously to curb extreme speculative swings without opposing fundamental macroeconomic trade forces.
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Sources:
https://enewsinsight.com/tni-evening-news-headlines-october-8-2026/