Rupee falls 4 paise to 88.69 against U.S. dollar in early trade

The rupee fell 4 paise to 88.69 against the U.S. dollar in early trade on Monday (November 10, 2025), weighed down by the strength of the American currency in the overseas market and elevated crude oil prices.

Forex traders said the rupee sentiment remained fragile amid global uncertainty.

The U.S. shutdown is providing a counter-intuitive lift to the dollar, with government spending halted, fewer dollars are circulating — tightening supply and offering short-term support to the currency, they said.

At the interbank foreign exchange market, the rupee opened at 88.64, and slipped to 88.69 against the greenback, registering a fall of 4 paise from its previous close.

On Friday, the rupee slipped 2 paise to 88.65 against the U.S. dollar.

“The RBI’s defence of the 88.80 level has now become a visible line in the sand, keeping USD/INR capped, with strong resistance seen around 88.80–89.00 and support near 88.40. This indicates a short-term consolidation within this range,” CR Forex Advisors MD – Amit Pabari said.

However, backed by India’s solid economic fundamentals and improving investor sentiment, the medium-term bias remains tilted toward rupee strength. A decisive break below 88.40 could pave the way for further gains toward 88.00–87.70 levels, Pabari added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08% to 99.68.

“The Federal Reserve’s cautious stance and the prolonged U.S. government shutdown have stirred uncertainty, but not enough to trigger a clear directional move,” Pabari noted.

Brent crude, the global oil benchmark, rose 0.66% to $64.05 per barrel in futures trading.

On the domestic equity markets front, the Sensex climbed 202.48 points to 83,418.76 in early trade, while the Nifty rose 68.65 points to 25,560.95.

Foreign institutional investors bought equities worth ₹4,581.34 crore on Friday, according to exchange data.

Meanwhile, India’s forex reserves dropped $5.623 billion to $689.733 billion for the week ended October 31, the Reserve Bank of India said on Friday.

The overall reserves had declined by $6.925 billion to $695.355 billion.