Rupee falls 8 paise to close at 88.27 against U.S. dollar

Foreign Institutional Investors sold equities worth ₹55.58 crore on October 27, 2025, according to exchange data. File

Foreign Institutional Investors sold equities worth ₹55.58 crore on October 27, 2025, according to exchange data. File
| Photo Credit: Reuters

The rupee depreciated by 8 paise to close at 88.27 against the U.S. dollar on Tuesday (October 28, 2025) on weak domestic stock markets and foreign fund outflows.

Forex traders said a weak U.S. dollar and softening of crude oil prices cushioned the downside.

Investors are also keeping a watch on the Federal Reserve’s policy decision on Wednesday (October 29) for further cues.

At the interbank foreign exchange market, the rupee opened at 88.34 and later traded in a range of 88.23 to 88.40 during the day. The local unit finally settled at 88.27 (provisional) against the greenback, registering a fall of 8 paise from its previous close.

On Monday (October 27), the rupee plunged 36 paise to close at 88.19 against the U.S. dollar.

“We expect the rupee to trade with a slight negative bias on weak domestic equities and month-end dollar demand from importers. However, optimism over the trade deal between India and the U.S. may support the rupee at lower levels,” said Anuj Choudhary, Research Analyst, Currency and Commodities, Mirae Asset ShareKhan.

Mr. Choudhary further noted that investors may remain cautious ahead of the U.S. FOMC meeting decision. USD/INR spot price is expected to trade in a range of 87.90 to 88.60, he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.09% to 98.69.

Brent crude, the global oil benchmark, fell 1.74% to $64.48 per barrel in futures trading.

On the domestic equity markets front, Sensex declined 150.68 points to settle at 84,628.16, while the Nifty dipped 29.85 points to 25,936.20.

Foreign Institutional Investors sold equities worth ₹55.58 crore on Monday (October 27), according to exchange data.

Meanwhile, India’s crude oil imports from the United States climbed to their highest level since 2022 in October, a move seen as part of New Delhi’s effort to diversify supplies away from Russia and ease trade tensions with the Trump administration.

India’s crude imports from the U.S. reached 540,000 barrels per day as of October 27 – the highest since 2022, according to data from Kpler.

October is likely to close with near 575,000 bpd, and November looks to book around 400,000-450,000 bpd, per U.S. export data – a sharp jump from the year-to-date average of around 300,000 bpd.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *