On Friday, October 10, 2025, the Indian rupee demonstrated a positive trend, strengthening by 10 paise to provisionally close at 88.69 against the U.S. dollar. This uplift was largely attributed to a robust performance in domestic markets and a noticeable dip in global crude oil prices.
According to foreign exchange traders, the rupee’s appreciation was a direct result of strong activity in India’s domestic markets and a significant overnight reduction in global commodity prices.
Further bolstering the local currency was strategic intervention by the central bank. However, a persistently strong U.S. dollar prevented the rupee from achieving even more substantial gains.
During interbank foreign exchange trading, the rupee commenced the day at 88.80. It experienced fluctuations within a range of 88.50 to 88.80 before ultimately settling at a provisional close of 88.69, marking a 10 paise improvement from its prior closing rate.
The previous day, Thursday, October 9, saw the rupee closing at 88.79 against the greenback.
Anuj Choudhary, a Research Analyst specializing in Currency and Commodities at Mirae Asset ShareKhan, anticipates continued positive momentum for the rupee. He noted, “We expect the rupee to trade with a positive bias, driven by robust domestic markets and a general softening of crude oil prices. Potential factors like a U.S. government shutdown and increasing expectations of a rate cut by the U.S. Federal Reserve could further boost the rupee’s strength.”
Mr. Choudhary also cautioned that a strong U.S. dollar and consistent demand from importers for dollars might limit any dramatic upward movement. He projects the USD-INR spot price to trade within a range of 88.40 to 88.85.
Concurrently, the dollar index, which measures the U.S. dollar’s performance against a collection of six major currencies, was observed trading 0.21% lower at 99.32. Despite this slight dip, persistent safe-haven demand ensured the dollar remained a strong asset.
In the commodities market, Brent crude, a key global oil benchmark, saw its futures trading lower by 0.61%, settling at $64.85 per barrel.
India’s domestic equity markets also performed strongly. The benchmark Sensex index surged by 328.72 points, a gain of 0.40%, to reach 82,500.82. Similarly, the Nifty index rose by 103.55 points, or 0.41%, closing at 25,285.35.
Exchange data revealed that Foreign Institutional Investors (FIIs) were net buyers on Thursday, October 9, acquiring equities valued at ₹1,308.16 crore.