There has been an increase of more than 1 percent in the rupee against the dollar in October.
In the month of October, the rupee has seen a rise for several months. There is a reason for this also. Rupee got support from fall in crude oil prices. The rupee also got support from the return of foreign investors. The rupee also held its own due to the rise in the stock market. There was a rise in the rupee due to the support of RBI. The positive environment created on the possible trade deal with America also supported the rupee. These were all the things which were enough to give full support to the rupee.
If we talk about Friday, despite the selling by foreign investors and the fall in the stock market, there was a rise in the rupee. The special thing is that due to fall in crude oil prices and better environment for trade deals, the rupee appreciated. In the month of October, the rupee has seen an increase of 1 rupee against the dollar. Let us also tell you at what level the rupee was against the dollar on September 30 and what level it has reached at present.
Rupee rises again
The rupee rose 9 paise to 87.79 against the dollar in early trade on Friday. The rise was driven by falling crude oil prices in the international market and optimism over the India-US trade agreement. However, forex traders said withdrawals by foreign institutional investors (FIIs) capped the sharp rise. At the interbank-bank foreign currency exchange market, the rupee opened at 87.78 against the US dollar and then declined marginally to 87.79, 9 paise lower than its previous close. On Thursday, the rupee increased by 5 paise and closed at 87.88 against the US dollar. Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said that the Reserve Bank of India was again present at 87.95 yesterday (Thursday), which ensured that the rupee does not cross the 88.00 level and the rupee closed at its peak on the optimism of the US-India trade deal. Global sentiment remains mixed with the rise in oil prices.
Increase of one rupee in October
On the other hand, if we talk about the month of October, an increase of one rupee has been seen in the rupee against the dollar. If we look at the data, the rupee was at the level of 88.80 on the last trading day of last month, which has now fallen by Rs 1.01 to the level of 87.79. This means that the rupee has seen a rise of 1.14 percent against the dollar. Bhansali said that after gaining more than 5 per cent on Thursday due to US sanctions on exports of two Russian oil companies (which account for more than 5 per cent of total world oil production), Brent oil prices remained steady at $65.63 per barrel and are set for their biggest weekly gain since June 2025. Prices are up 7 percent on a weekly basis, marking one of the most significant weekly jumps in nearly 4 months. However, it is not going to have any significant impact on the rupee. If the supply of oil increases in the coming days, the prices will reduce further.
market decline
Meanwhile, the dollar index, which gauges the dollar’s strength against six currencies, was trading 0.08 percent higher at 99.01. Global oil benchmark Brent crude was trading 0.55 percent lower at $65.63 per barrel in futures trade. On the domestic stock market front, Sensex fell 153.18 points to 84,403.22 in early trade, while Nifty fell 51.1 points to 25,840.30. According to exchange data, foreign institutional investors sold equities worth Rs 1,165.94 crore on Thursday.