The rupee fell to 96.39 per dollar on Tuesday, marking a 4‑paise swing from Monday’s close of 96.35.
Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors, said the RBI has been defending the currency at 96.33, yet demand from foreign portfolio investors and oil companies remains strong.
Brent crude futures traded at $100.6 per barrel, up 0.23%, while the dollar index slipped to 102.12. The Sensex advanced 120.22 points to 72,535.41 and the Nifty rose 47.15 points to 22,603.10.
Foreign institutional investors sold equities worth ₹4,699.14 crore on a net basis on Monday, underscoring continued outflows that pressured the rupee.
The RBI’s Monetary Policy Committee, meeting through Monday, is likely to raise the repo rate by 25 basis points, aligning with hawkish global central banks amid rising tensions in West Asia and domestic inflation risks.