Rupee Today: The Indian rupee was expected to rise against the US dollar on Tuesday, October 13, 2026, making it the second day of rise in succession because of the steps taken by Reserve Bank of India (RBI) to cushion the pressure on the local currency. The Indian rupee opened at ₹95.53 per dollar and rose to ₹94.96 in initial dealings, gaining 82 paise against the last closing price, according to sources.
According to the information in the previous day, the rupee rose around 1 percent to close at ₹95.77-₹95.78 against the dollar, giving its best performance in almost six months. This is said to be a result of the measures implemented by RBI that made some foreign exchange operations expensive; thus discouraged immediate dollar demand. Besides, RBI also sold dollars in the foreign exchange market, as stated by Reuters.
However, it is evident that the currency is still facing pressure because of high crude oil prices and foreign investments outflow. The sustainability of the recently experienced appreciation is now apparent.
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Why Is the Indian Rupee Rising Against the US Dollar Today?
The recovery of the rupee is mainly due to the RBI’s steps to bring down the demand for dollars in the spot market and the derivatives market. The central bank has made changes in its foreign exchange regulations so as to avoid any speculative positions in the market.
Also, there is a special dollar facility for the three state-owned oil marketing companies Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation. Through the special arrangement, these companies can fulfill their dollar requirements by using this facility instead of using only the spot market.
According to Reuters, the facility can divert around $10 to $12 billion dollars of monthly dollar demand from the spot market depending on oil imports. With the help of this measure, the RBI can reduce one of the main reasons behind the pressure on rupee because India relies on its imported crude oil to run the economy.
The central bank has also intervened in the market by selling dollars to strengthen the currency. All these measures have helped the rupee to regain strength after reaching a record low of ₹96.96 per dollar in May.
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