{
  "id": 14077024,
  "title": "Rupee rebounds nearly 1% after RBI moves to curb speculative trades",
  "url": "https://urgent.news/2026/10/12/rupee-rebounds-nearly-1-after-rbi-moves-to-curb-speculative-trades",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T15:07:39.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/forex/forex-news/rupee-rebounds-nearly-1-after-rbi-moves-to-curb-speculative-trades/articleshow/134896489.cms"
  },
  "original_language": "en",
  "account": "India's rupee surged nearly 1% following the Reserve Bank of India's efforts to curb speculative trades, according to reports. The currency opened Monday at 95.76 against the dollar, up from a near-record low of 96.73 earlier in the day. The RBI's intervention in the forex market, aimed at preventing the rupee from dropping below the psychologically significant 96 mark, appears to have paid off. However, corporate and importer demand for dollars at lower levels has caused the currency to dip again to 95.9850. Madhavi Arora, lead economist at Emkay Global Financial Services, stated that while the RBI's measures may divert a significant portion of current account dollar demand away from the market, they will not eliminate the underlying demand. The regulator announced a series of measures to support the weakening rupee, which has depreciated by about 7% this year due to high crude oil prices, a strong dollar index, and sustained foreign capital outflows. These are short-term fixes and not long-term solutions, Arora noted, as global conditions remain challenging. The rupee's all-time low was recorded at 96.96 on May 20. The RBI's special window, which drains the forex stockpile, may lead to a reduction in dollar demand from state-owned oil marketing companies, potentially easing spot pressure on the rupee. However, if global conditions remain adverse, defending the rupee will require more costly policy trade-offs and structural reforms, as suggested by Arora. Brent oil prices remain above $100 a barrel, and US Treasury yields are above 5.2%, keeping the dollar strong. Meanwhile, hostilities between Saudi Arabia and Houthis continue to cast a shadow over global market sentiments.",
  "summary": "The rupee rebounded nearly 1% to 95.77 per dollar on Monday after the RBI announced measures to curb speculative currency trades. A special window for state-owned oil marketing companies eased spot-market pressure, though dollar buying by importers and corporates capped gains. Elevated crude prices and global uncertainties continue to weigh on the currency.",
  "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."
}