Rupee trades in narrow range against U.S. dollar in early trade
The Hindu
At the interbank foreign exchange, the Rupee opened at 83.24 against the dollar, then touched 83.23, registering a rise of four paise over its previous close.
The Rupee witnessed range-bound trading against the U.S. dollar in early trade on October 9, weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas market.
Forex traders said the safe-haven dollar gained ground amidst heightened concerns in the Middle East.
At the interbank foreign exchange, the Rupee opened at 83.24 against the dollar, then touched 83.23, registering a rise of four paise over its previous close. On Friday, the Rupee declined two paise to settle at 83.27 against the U.S. dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.26% to 106.32.
Brent crude futures, the global oil benchmark, advanced 3.69% to $87.70 per barrel. According to CR Forex Advisors MD-Amit Pabari, market sentiment turned delicate following clashes between Israeli forces and Hamas over the weekend, coinciding with a surprise attack by militants on Israel, marking the deadliest day of violence in the region in half a century.
"Global tensions propel safe-haven dollar, while RBI's vigilant stance sparks currency market tug-of-war," Mr. Pabari added.
According to recent Foreign Trade Performance Analysis data, India’s overall exports remained resilient in late 2025, even as traditional sectors faced sharp declines. While shipments of gems and jewellery to the U.S. plummeted, the overall figures were bolstered by a massive 237% surge in telecom exports, particularly smartphones. Data shows that Indian exporters are aggressively diversifying their portfolios. By deepening ties with existing partners and discovering new alliances, India is replacing lost U.S. sales with a more diversified set of trade partners
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