Rupee edges up to 95.11 against dollar on likely RBI intervention

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The Economic Times daily newspaper is available online now. Read Today's Paper Rupee edges up to 95.11 against dollar on likely RBI interventionBy ET BureauLast Updated: Oct 28, 2026, 05:48:00 AM ISTSynopsis

On Tuesday, the Indian rupee experienced a slight strengthening to close at 95.11 against the dollar. This change occurred despite rising oil prices and foreign fund outflows from the market. The Reserve Bank of India is believed to have intervened by selling dollars to stabilize the currency. Traders noted that the prices fluctuated and remained capped near the 95.25 resistance level.

Mumbai: The Indian rupee strengthened a little on Tuesday despite high oil prices and foreign fund outflows, as the Reserve Bank of India (RBI) likely sold dollars to cap excess depreciation in the currency. The rupee closed at 95.11 on Tuesday, from its previous close of 95.18. The currency traded in the range of 95.08 and 95.25 on the day, with RBI dollar sales capping a further move south of 95.25, traders said.

"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," said a trader from a private sector bank.

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"Active RBI intervention via state-run banks capped momentum near the 95.25 resistance ceiling," another trader said.
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