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₹ sees best day since June, rises 0.7%
Business Standard
|October 16, 2025
The rupee on Wednesday posted its strongest single-day gain in almost four months, since June 24, driven by heavy intervention from the Reserve Bank of India (RBI) through dollarsales, dealers said.
Some traders unwound their positionsagainstthe rupee, further supporting the local currency.
‘The rupee appreciated by 0.7 per cent to settle at 88.07 per dollar, up from the previous close of 88.8. During the day, the domestic currency rose past the 88 mark, touching a high of 87.95 per dollar.
‘The rupee staged a remarkable comeback on Wednesday, rebounding from record lows to close around 88.07, as the RBI stepped in with decisive measures to counter what it described as ‘speculative attacks’ on the currency,” said Abhishek Goenka, founder and chief executive officer of IFA (India Forex Advisors) Global.
This story is from the October 16, 2025 edition of Business Standard.
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