The Indian rupee traded relatively stable, at 88.78, during early trading on Friday, hovering near its record lows against the US dollar amid a stronger greenback in global markets. Forex analysts anticipate that the rupee will remain within a narrow trading range, with the potential to breach the all-time closing low of 88.80, particularly in the absence of intervention by the Reserve Bank of India (RBI).
In the interbank foreign exchange market, the rupee opened at 88.80 but quickly recovered to 88.78 against the dollar, reflecting a marginal gain of 1 paise from its previous close of 88.79 on Thursday. Traders have noted that a robust US dollar, alongside increased demand from importers, is exerting pressure on the rupee. Nevertheless, support from resilient domestic markets and a decline in crude oil prices has helped mitigate further losses.
Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, indicated that the RBI will likely monitor the rupee closely to prevent it from surpassing the 88.80 mark for the time being. He added that the persistent demand for safe-haven dollars continues to keep the greenback in high demand.
The dollar index, which measures the currency’s strength against six others, was reported at 99.32, down 0.22 percent. In commodity markets, Brent crude futures were trading at $65.10 per barrel, reflecting a decrease of 0.18 percent.
In the domestic equity market, the benchmark index Sensex rose by 188.07 points to 82,360.17 during early trading, while the Nifty increased by 50.65 points to 25,232.45. Furthermore, Foreign Institutional Investors (FIIs) were net buyers of equities worth ₹1,308.16 crore on Thursday, according to exchange data.
Published on October 10, 2025.
