Brief by Shorts91 Newsdesk / 05:24am on 12 Oct 2026,Monday India
The Indian rupee surged 94 paise to 95.77 against the US dollar at Monday’s opening, recovering from its previous close of 96.71 after the Reserve Bank of India (RBI) introduced measures to curb speculation and ease pressure on the currency. Announced Saturday, the measures prohibit rebooking cancelled rupee-linked foreign exchange derivative contracts, lower the threshold for forex transactions without underlying exposure and require a 20% cash reserve against certain contracts. The RBI also opened a special window allowing oil marketing companies to buy dollars directly from the central bank. While the steps may reduce market dollar demand, oil imports, trade payments and capital outflows could continue pressuring the rupee.
