{
  "id": 10860124,
  "title": "Rupee Slips 3 Paise To 95.97 Against US Dollar, RBI Intervention Keeps Trading Below 96",
  "url": "https://urgent.news/2026/09/30/rupee-slips-3-paise-to-95-97-against-us-dollar-rbi-intervention-keeps",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T04:40:27.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/rupee-slips-3-paise-to-9597-against-us-dollar-rbi-intervention-keeps-trading-below-96"
  },
  "original_language": "en",
  "account": "Mumbai: The Indian rupee weakened by 3 paise to 95.97 against the US dollar on September 30, according to early trade data. Demand for dollars from state-run oil marketing companies and persistently high crude oil prices put downward pressure on the currency. State-run banks' dollar sales on behalf of the Reserve Bank of India prevented the USD/INR exchange rate from surpassing the 96.00 threshold. At the interbank foreign exchange market, the rupee initially opened at 95.87 before sliding to 95.97. The rupee had closed at 95.94 the previous day, slightly stronger but just below the psychologically important 96-per-dollar mark. Reports indicated that the currency's decline was fueled by continuous oil-related dollar demand. However, central bank intervention proved effective in curbing the rupee's slide. Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, reported that state-run banks sold dollars as part of the RBI's intervention strategy. The RBI's intervention helped limit dollar gains, according to the report, which cited the weekly foreign exchange reserves decline of USD 14.9 billion, bringing the total to USD 766 billion. Foreign portfolio outflows of approximately USD 2.2 billion this month and rising US bond yields continued to exert downward pressure on the rupee. On Tuesday, foreign institutional investors sold Indian equities worth Rs 9,980.22 crore on a net basis. The dollar index, which gauges the greenback's value against six major currencies, rose by 0.04 per cent to 101.40. Brent crude futures increased by 0.82 per cent to USD 103.43 a barrel, further exacerbating the oil importers' dollar requirements. Domestic equities saw a rise in early trading, with the Sensex gaining 190 points to 72,733.04 and the Nifty advancing 22 points to 22,735.20. Currency traders kept a close eye on crude prices, foreign flows, and RBI activities for any indications of future market direction.",
  "summary": "Mumbai: The Indian rupee slipped 3 paise to 95.97 against the US dollar in early trade on Wednesday, September 30, as demand for dollars from state-run oil marketing companies and firm crude oil prices weighed on the currency. Trading remained confined to a narrow range, with dollar sales by state-run banks on behalf of the Reserve Bank of India helping keep the USD/INR exchange rate below 96.00.…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}