The Indian currency rose 23 paise to 96.65 per U.S. dollar on October 9. Traders attributed the support to a softer U.S. dollar and possible Reserve Bank of India action.
At the interbank market, the rupee opened at 96.74 and later reached 96.65. On the previous day, October 8, it lost 13 paise to close at 96.88 per dollar. PTI and Moneycontrol reported similar levels and trading movements for October 8.
Currency traders said geopolitical risks and continued foreign capital outflows remained a drag on the rupee, while a slight retreat in the dollar and suspected RBI intervention helped limit losses. The dollar index fell 0.10% to 102.03. Brent futures declined 1.09% to $103.14 a barrel.
Indian stock indexes also advanced. The Sensex gained 292 points to 71,876.10, while the Nifty rose 84.60 points to 22,310.40. Exchange data showed foreign institutional investors were net sellers of shares worth 12,943.58 crore rupees on the previous day.