Indian rupee strengthens to 95.80 per dollar in early trading

The Indian rupee gained 91 paise to 95.80 per U.S. dollar in early trading on October 12, 2026, following new currency-market measures from the Reserve Bank of India.

The currency opened at 95.61 before giving up part of its advance. Friday's closing rate was 96.71 per dollar, compared with a record closing low of 96.88 on Thursday, The Hindu reported. The 95.80 figure describes early trading, rather than the day's closing rate.

The central bank announced a dedicated dollar window for oil marketing companies on October 10. By redirecting their dollar purchases, the measure aims to reduce demand in the spot currency market. ANI also reported Monday's rebound and the new window.

The RBI tightened rupee-linked derivative rules, including a ban on rebooking cancelled contracts while retaining permitted rollovers at maturity. It cut the limit for transactions without evidence of an underlying exposure from $100 million to $5 million.

It also introduced a cash reserve requirement of 20% for specified contracts above $2 million used to hedge current-account foreign-currency purchases. The bank described the measures as efforts to strengthen risk management and market discipline.