The Indian rupee opened at 95.01 per US dollar, up from 95.28 at Tuesday’s close, marking the first dip below 95 since September 8. The 10‑year government bond yield rose to 6.94%, with the bond’s market price at 97.02.
RBI’s recent foreign‑exchange interventions aim to curb speculation. Governor Sanjay Malhotra told Moneycontrol that the measures are regulatory, not capital restrictions, and that the central bank is ready to add further tools to keep the rupee’s volatility in check.
Meanwhile, U.S. stocks trimmed gains after a long weekend, while Asian indices leaned higher; KOSPI surged over 1.70%. The GIFT Nifty is trading lower, potentially offsetting the gains seen in yesterday’s Nifty weekly expiry session.
Crude oil has climbed to $106, adding upward pressure on the rupee and feeding a broader risk‑off sentiment in currency markets.
The RBI is slated to review its policy stance in the next meeting, and traders will be looking for hints on reserve‑requirement adjustments or new hedging rules that could further influence the rupee’s trajectory.