Brief by Shorts91 Newsdesk / 04:51pm on 21 Oct 2026,Wednesday India
The Indian rupee climbed to a six-week high on October 21, supported by foreign portfolio inflows linked to Jio Platforms’ initial public offering and recent central bank measures. The currency touched 94.4925 against the US dollar before trimming gains to trade at 94.56, up 0.4% on the day. It has recovered more than 2% after approaching record lows earlier this month. Reserve Bank of India measures included redirecting oil-related dollar demand away from the spot market and increasing costs for certain importer hedges. RBI interventions and foreign inflows reinforced the recovery. However, elevated oil prices, India’s current account deficit and inflation risks continue to cloud the outlook, HSBC analysts said. (PC: Reuters)
