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Rupee weakens against US dollar despite RBI rate hike
Oct-07-2026

Indian rupee has weakened against US dollar on Wednesday despite the 25-basis point interest rate hike by Reserve Bank of India. Rebound in global crude oil prices and bond yield have dampened investor sentiment. The Brent crude oil prices have surged past $101 a barrel amid escalating tensions in West Asia. Further, persistent capital outflows from foreign institutional investors (FIIs) have weighed on domestic currency. FIIs were the net sellers on Tuesday’s session, offloading securities worth Rs 2,961.30 crore. On the global front, British pound has weakened against the US dollar on Wednesday as surge in crude oil prices heightened inflation concerns.

Finally, the rupee ended at 96.75 (Provisional), weakened by 40 paise from its previous close of 96.35 on Tuesday. The currency touched a high and low of 96.84 and 96.34 respectively.

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