Business · Markets · 2 hrs ago
Rupee rises slightly to 95.11 per dollar as RBI likely intervenes
The Indian rupee strengthened slightly against the US dollar on Tuesday, closing at 95.11 per dollar.
It had closed at 95.18 the previous trading day.
The Reserve Bank of India likely sold dollars to prevent the rupee from weakening further, traders said.
The currency moved between 95.08 and 95.25 during the day.
High oil prices and foreign fund outflows put pressure on the rupee, while oil companies also needed dollars to pay for oil.
Brent crude futures were around $116 a barrel on Tuesday.
RBI action helped limit the rupee’s decline, but no further steps were specified.
The Indian rupee closed at 95.11 per dollar on Tuesday, up from its previous close of 95.18.
The Reserve Bank of India likely sold dollars to limit further depreciation, traders said.
The currency traded between 95.08 and 95.25 during the day.
High oil prices and foreign fund outflows weighed on the rupee.
Brent futures were around $116 per barrel on Tuesday.
- Who
- The Indian rupee and the Reserve Bank of India.
- What
- The rupee strengthened slightly to 95.11 per dollar, with likely RBI dollar sales limiting further losses.
- When
- Tuesday; the article was published on October 28, 2026.
- Where
- India’s currency market; the article dateline is Mumbai.
- Why
- Likely RBI intervention capped depreciation amid high oil prices, foreign fund outflows and dollar demand from oil companies.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Tuesday close
- 95.11 rupees per dollar
- Previous close
- 95.18 rupees per dollar
- Tuesday trading range
- 95.08–95.25 rupees per dollar
- Brent futures
- Around $116 per barrel on Tuesday
- Publication date
- October 28, 2026
What people are saying
The price action was heavily steered by market anticipation of sizable dollar outflows associated with foreign institutional allocations and dollar demand from oil companies, as Brent prices rose,
Active RBI intervention via state-run banks capped momentum near the 95.25 resistance ceiling,