The Indian rupee depreciated by seven paise to open at 95.22 against the United States dollar in interbank foreign exchange trade on Tuesday morning, pressured by sustained strength in the greenback and elevated energy import costs. Currency dealers noted that persistent capital withdrawals by foreign institutional investors and mounting month-end dollar demand from domestic oil marketing companies weighed heavily on local currency valuations during opening trading hours.
Escalating international crude prices exacerbated pressure on the rupee, with global benchmark Brent crude hovering near 114.76 dollars per barrel amid supply constraints in global energy corridors. Elevated oil benchmarks widen India’s trade deficit and intensify demand for foreign currency to settle import contracts. Forex strategists indicated that while market sentiment remains defensive, targeted foreign exchange market interventions by the Reserve Bank of India helped curb excessive volatility and anchored the rupee against disorderly intraday fluctuations across currency exchanges.
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Sources:
https://www.thehindu.com/business/markets/rupee-falls-against-us-dollar-in-early-trade-on-october-27-2026/article71629928.ece