Rupee rises 7 paise to close at 94.92 against U.S. dollar on RBI intervention

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,285.37 crore on a net basis on Thursday (October 15, 2026), according to exchange data. (Representational image) | Photo Credit: Getty Images/iStockphoto The rupee stayed on upward momentum for the sixth straight session on Friday (October 16, 2026) and settled 7 paise higher at 94.92 (provisional) against the U.S. dollar, backed by the Reserve Bank's measures to curb spot dollar demand.However, elevated crude oil prices and foreign fund outflows capped the rupee's gains, according to forex traders.At the interbank foreign exchange market, the rupee opened at 94.75 against the American currency. In intraday trade, it touched a high of 94.71 and a low of 95.06 before settling at 94.92 (provisional), up 7 paise from the previous close.On Thursday (October 15, 2026), the rupee appreciated 18 paise to close at 94.99 against the U.S. dollar."The rupee is now approaching a crucial support zone around 94. Persistent pressure from elevated crude oil prices, rising U.S. Treasury yields, and continued foreign equity outflows has prompted the RBI to intensify its intervention to limit the impact of currency weakness on domestic inflation and broader financial stability," said Kaveri More, commodity technical analyst, Choice Broking.The RBI has reportedly deployed around $75-80 billion through spot dollar sales and dollar-rupee swaps since its special measures to attract foreign currency inflows came into effect on June 8, he said."Going forward, the rupee's near-term direction will depend on the effectiveness of RBI intervention, movements in crude oil prices and U.S. bond yields, and the pace of foreign investor flows. While continued central bank support may help stabilise the currency, sustained external pressures could limit further appreciation," Ms. More said.The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.41% at 101.445.Brent crude, the global oil benchmark, was trading down by 0.34% at $105.56 per barrel in futures trade.On the domestic equity market front, Sensex climbed 413.66 points to settle at 74,729.27 while Nifty rose 148.80 points to close at 23,146.15.Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,285.37 crore on a net basis on Thursday (October 15, 2026), according to exchange data. Published - October 16, 2026 04:54 pm IST