Rupee Rises 62 Paise to ₹95.16 Against US Dollar

Mumbai | October 13, 2026

Rupee Opens Higher Against the US Dollar

The Indian Rupee opened higher by 62 paisa at INR95.16 against the dollar on October 13, 2026 after the Reserve Bank of India (RBI) took steps to ease the outflow pressure on the currency.

The Rupee closed at INR95.77 per dollar on October 12 after gaining over 1 percent, the most significant single-day rise in more than six months.

The RBI took several steps to quell excess demand for the dollar and speculation in the foreign exchange market. In addition, the central bank sold dollars in the market to bolster the Rupee.

RBI Takes Steps to Ease Demand for Dollars

The RBI has taken steps to ease demand for dollars by amending the Foreign Exchange Risk Reserve (FERR) rules and tightening regulations regarding certain rupee derivative contracts issued to non-resident entities.

As per the new directives, dealers dealing in foreign exchange derivatives had to maintain a reserve of 20 percent of the rupee value of eligible foreign exchange derivative contracts for managing currency risks on their own account and on account of others.

They had to deposit cash with the RBI, which would be released to the Authorized Dealers on a contract-wise basis upon expiry.

In addition, the RBI has barred certain entities from dealing in non-deliverable rupee derivative contracts for hedging purposes against unauthorized transactions.

Further, the RBI’s intervention in the forex market through dollar sales also contributed to calming speculators who were driving the Rupee lower.

Special Dollar Supply Window for Oil Marketing Companies

In addition, the RBI announced a special dollar supply window for three public sector oil marketing companies to meet their daily forex requirements.

It is believed that such a step would help in managing the dollar inflows and outflows to some extent.

However, the new rules on FERR may increase the carrying costs for hedging currency risks for importers.

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