The rupee has been under constant pressure for the past few days due to a strengthening US dollar and a decline in the domestic stock market. However, on Tuesday, September 30, 2025, the second trading day of the week, the rupee recovered somewhat from its all-time low and registered a slight gain against the US dollar in early trade. The rupee strengthened by three paise to 88.72 due to a decline in global crude oil prices and positive signals in the domestic stock market.
Anuj Chaudhary, currency and commodity analyst at Mirae Asset Sharekhan, said that weakness in the domestic market and month-end dollar demand from importers could continue to pressure the rupee in the coming days. However, if the dollar index weakens or the Reserve Bank of India (RBI) intervenes, it could support the rupee from lower levels.
According to forex traders, the partial strengthening of the dollar and foreign capital outflows have limited the rupee’s recovery. The market is now awaiting the decision of the RBI’s Monetary Policy Committee (MPC) meeting, which will be announced on Wednesday. The rupee opened at 88.73 in the interbank foreign exchange market and soon fell to 88.72, a gain of three paise from Monday’s 88.75.
Meanwhile, the domestic stock market also witnessed a positive trend. The BSE Sensex opened at 80,677.82, up 312.88 points, while the NSE Nifty 50 jumped 96.90 points to 24,731.80. In early trade, stocks like Titan, Asian Paints, and Power Grid were the biggest gainers. Consumer durables stocks also saw a good rise.
A decline in international Brent crude prices also contributed to the rupee’s strengthening. Brent crude was trading at $67.43 per barrel, down 0.79%. However, selling by foreign institutional investors (FIIs) limited the market’s gains. On Monday, FIIs sold shares worth ₹2,831.59 crore.
As a result, the rupee has recovered slightly, but the market is still moving based on global cues and decisions on the domestic economic front. Investors are now eyeing the RBI’s policy meeting, which could play a key role in determining the market’s future direction.