The Indian rupee regained ground from a record low, appreciating by 21 paise to 88.56 against the US dollar in early trading on Tuesday, supported by a decline in crude oil prices globally.
Despite this rebound, the currency faced ongoing pressure from a robust dollar and a significant outflow of foreign funds from the capital market, according to foreign exchange traders. At the interbank foreign exchange market, the rupee opened at 88.55 and subsequently traded at 88.56, reflecting a notable increase of 21 paise from the previous day’s closing.
On Monday, the rupee had declined for the third consecutive session, closing 7 paise lower at 88.77 against the US dollar, close to its all-time closing high. The currency’s lowest-ever closing price of 88.81 was recorded on October 14.
In related market movements, the dollar index, which measures the greenback’s strength against a basket of six currencies, edged up by 0.04 percent to 99.75. Meanwhile, Brent crude, the global oil benchmark, decreased by 0.32 percent to $64.68 per barrel in futures trading.
In the domestic equity market, the Sensex fell by 55 points to 83,923.48, while the Nifty declined by 40.95 points to 25,722.40. Foreign institutional investors reportedly sold equities worth ₹1,883.78 crore on Monday, as per exchange data.
A monthly survey released on Monday indicated that India’s manufacturing sector activity improved in October, driven by Goods and Services Tax relief, productivity enhancements, and technological investments, although international sales growth moderated. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) increased from 57.7 in September to 59.2 in October, suggesting more robust conditions in the sector.
Published on November 4, 2025.
