At the interbank foreign exchange, the rupee opened at 87.80 and touched an intraday low of 87.96 before settling at 87.86 (provisional), registering a rise of 7 paise from its previous close. Representational image.
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The rupee appreciated by seven paise to close at 87.86 (provisional) against the U.S. dollar on Thursday (October 23, 2025), supported by a positive trend in domestic equities and risk-on sentiments amid optimism about the U.S.-India trade deal.
Forex traders said the rupee closed on a positive note as there is a growing buzz that India and the U.S. are inching closer to finalising a long-awaited trade deal.
At the interbank foreign exchange, the rupee opened at 87.80 and touched an intraday low of 87.96 before settling at 87.86 (provisional), registering a rise of 7 paise from its previous close.
On Monday (October 20, 2025), the rupee had settled nine paise higher at 87.93 against the greenback.
Foreign exchange markets were closed on Tuesday (October 21, 2025) and Wednesday (October 23, 2025) due to Diwali and Diwali Balipratipada, respectively.
According to forex traders, investors will watch global cues, U.S. economic data and RBI monetary signals for further directions.
Meanwhile, Prime Minister Narendra Modi and U.S. President Donald Trump discussed trade issues during a phone conversation amid efforts by the two sides to repair bilateral ties that remain under strain after Washington slapped a whopping 50% tariff on Indian goods.
In his remarks following the call on Tuesday (October 21, 2025), Mr. Trump described the India-U.S. relationship as “great” and said, without elaborating, that the two sides are working on some “great deals”.
Moreover, Mr. Trump has reiterated his claim that India has agreed to “stop” buying oil from Russia and would bring them down to “almost nothing” by the end of the year.
However, he said, it is a process and will take some time. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.14% higher at 99.04.
Brent crude, the global oil benchmark, was trading higher by 5.32 per cent at USD 65.92 per barrel in futures trade.
On the domestic equity market front, Sensex climbed 130.06 points to settle at 84,556.40, while the Nifty rose 22.80 points to 25,891.40.
Foreign institutional investors purchased equities worth ₹96.72 crore on Tuesday (October 21, 2025), according to exchange data.
Published – October 23, 2025 04:16 pm IST
