Image used for representational purposes only.
| Photo Credit: Getty Images/iStockphoto
The rupee appreciated 20 paise to 94.79 against the U.S. dollar in early trade on Friday (October 16, 2026) on the softening of the American currency and the positive impact of the RBI’s structural forex interventions.
Lower U.S. Treasury yields also supported the domestic currency. However, elevated crude oil prices and a decline in equity markets restricted the rupee’s sharp gains.
Also Read: Explained | RBI’s worries about pressure on rupee and measures to curb volatility in forex market
In the interbank foreign exchange market, the rupee opened at 94.75, touched 94.79, and gained 20 paise from its previous close.
On Thursday (October 15), the rupee had appreciated 18 paise to close at 94.99 against the U.S. dollar.
“ Decline in the dollar index and softening of U.S. Treasury yields also supported the rupee. However, a surge in crude oil prices capped sharp gains. On the data front, U.S. PPI (Producer Price Index) was hotter than expected. At the same time, retail sales topped forecast. Weekly unemployment claims were in line with expectations,” said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.54% at 102.
Brent crude, the global oil benchmark, was trading lower by 0.54%t at $105.35 per barrel in futures trade.
On the domestic equity market front, Sensex declined 113 points to 74,187 in early trade, while Nifty dipped 27.20 points to 22,967.15.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,285.37 crore on a net basis on Thursday (October 16), according to exchange data.
Published – October 16, 2026 10:28 am IST
