USD-INR: Rupee Jumps 98 Paise To 95.75 Per Dollar As RBI Tightens Curbs On Dollar Demand And Forward Buying

The rupee opened higher on 12 October 2026 following steps by the Reserve Bank of India (RBI) to curb demand for dollars. Higher costs under a new foreign-exchange rule are expected to discourage forward dollar purchases and affect forward premiums.

The rupee opened at ₹95.75 against the US dollar, gaining 98 paise from Friday’s closing level of ₹96.73 per dollar.

Other Asian Currencies Also Advanced

The South Korean won led gains against the US dollar compared with the previous close. Here is how other Asian currencies performed:

• South Korean Won: 0.355%

• Philippine Peso: 0.204%

• Chinese Renminbi: 0.158%

• Japanese Yen: 0.12%

• Indonesian Rupiah: 0.089%

• Thai Baht: 0.087%

• Singapore Dollar: 0.078%

• Malaysian Ringgit: 0.059%

• Taiwan Dollar: 0.041%

Global Risks Keep Currency Markets On Alert

Despite the rupee’s recovery, the US dollar remained near its strongest level in around 18 months during early Asian trading. Escalating conflict in the Middle East kept investors cautious ahead of key US inflation data due later in the week. Those figures could influence expectations for US monetary policy and add to currency-market volatility.

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