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At the interbank international trade market, the rupee opened at 88.37, and later fell to an intra-day low of 88.74. The native unit lastly settled at 88.70 (provisional) towards the buck, registering a lack of 48 paise from its earlier shut. | Photo Credit: Reuters
Forex merchants mentioned the U.S. Federal Reserve slashed rates of interest by 25 bps in its Federal Open Market Committee (FOMC) assembly. However, Fed Chair Jerome Powell’s commentary was hawkish, trimming rate-cut expectations for December.
Moreover, month-end greenback demand from Oil Marketing Companies (OMCs) and international fund outflows may additionally weigh on the rupee.
At the interbank international trade market, the rupee opened at 88.37, and later fell to an intra-day low of 88.74. The native unit lastly settled at 88.70 (provisional) towards the buck, registering a lack of 48 paise from its earlier shut.
On Wednesday, the rupee appreciated seven paise to shut at 88.22 towards the U.S. greenback.
“We expect the rupee to trade with a slight negative bias on a strong U.S. Dollar, weak domestic markets and a hawkish Fed. Month-end dollar demand from OMCs may also weigh on the rupee,” mentioned Anuj Choudhary, Research Analyst, Currency and Commodities, Mirae Asset ShareKhan.
The U.S. Fed lower charges by 25 bps, as anticipated. However, Fed Chair Jerome Powell mentioned the December lower was not a foregone conclusion, given inflation stays above goal and labour-market uncertainties persist.
Following Powell’s remarks, market expectations of a December fee lower fell sharply, prompting an increase in U.S. Treasury yields and a stronger greenback, merchants mentioned.
Choudhary additional famous that the weak spot in crude oil costs could assist the rupee at decrease ranges. “USDINR spot price is expected to trade in a range of 88.45 to 89,” he mentioned.
Meanwhile, the greenback index, which gauges the buck’s energy towards a basket of six currencies, fell 0.09% to 99.12.
Brent crude, the worldwide oil benchmark, fell 0.65% to $64.50 per barrel in futures buying and selling.
On the home fairness markets entrance, the Sensex tanked 592.67 factors to settle at 84,404.46, whereas the Nifty dropped 176.05 factors to 25,877.85.
Foreign institutional buyers offered equities price ₹2,540.16 crore on Wednesday, in response to trade knowledge.
Published – October 30, 2025 04:36 pm IST
