{
  "id": 12081483,
  "title": "Rupee Slips To 96.26 Against US Dollar, Oil Prices And Foreign Outflows Keep Pressure On Currency",
  "url": "https://urgent.news/2026/10/05/rupee-slips-to-96-26-against-us-dollar-oil-prices-and-foreign",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T04:50:24.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/rupee-slips-to-9626-against-us-dollar-oil-prices-and-foreign-outflows-keep-pressure-on-currency"
  },
  "original_language": "en",
  "account": "Mumbai experienced a stable range for the Indian rupee against the US dollar at the start of trading on Monday, as high crude oil prices and ongoing foreign investor selling kept the currency under pressure. The rupee began at 96.20 in the interbank foreign exchange market but fell to 96.26, a one-paisa decrease from its previous level of 96.25. The forex and equity markets were both not trading on Friday, which was Gandhi Jayanti. The Reserve Bank of India's interventions managed to limit the rupee's losses, with forex traders attributing this to dollar sales by the bank. However, import costs surging and the dollar strengthening continued to negatively impact the currency's performance. Analyst Anindya Banerjee, from Kotak Securities, anticipates the dollar-rupee pair to hover between 95.50 and 96.50, favoring a stronger dollar. Higher oil prices above $100, elevated US bond yields, and substantial foreign portfolio selling are cited as the primary pressures. Economists broadly expect the Reserve Bank of India to hike its policy rate by 25 basis points to 5.50% this week, as per Banerjee. Investors will closely watch the RBI's decision on Wednesday, US services data, and Federal Reserve meeting minutes for cues. Any confirmation of Saudi infrastructure damage could further raise Brent crude prices, according to Banerjee. The expectation of an October Fed pause and an RBI rate hike has already been priced into market expectations. The rupee slipped by 3 paise to 95.97 against the US dollar, with the RBI's dollar sales aiding its defense at the 96 level. Meanwhile, dollar strength and foreign outflows weigh on the currency. The dollar index rose 0.54% to 102.47, while Brent crude futures dropped 0.89% to $101.34 a barrel. Foreign Institutional Investors (FIIs) sold equities worth Rs 9,484.22 crore on Thursday. India's foreign exchange reserves dipped by USD 18.343 billion to USD 747.557 billion in the week ending September 25, as per RBI data, following a USD 14.881 billion decline the week prior.",
  "summary": "Mumbai: The Indian rupee moved within a narrow range against the US dollar in early trade on Monday, with high crude oil prices and continued foreign investor selling keeping the currency under pressure. The rupee opened at 96.20 at the interbank foreign exchange market before slipping to 96.26, down one paisa from its previous close of 96.25. Forex and equity markets remained closed on Friday…",
  "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."
}