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The rupee rose about 1% to near 95.76 per dollar on 12 October 2026 after RBI curbs on dollar demand, while the 10-year bond yield climbed to about 7.35%.
The RBI will sell dollars directly to IOC, HPCL and BPCL from October 12, 2026 and has tightened forex derivative rules to support the weak rupee.
The rupee traded about 0.2% from its record low of 96.97 per dollar on Oct 8, 2026, despite a rate hike, dollar sales and deposit schemes by the RBI.
India's forex reserves fell US$12.95 billion to US$734.6 billion in the week to 2 October 2026, RBI data showed on 9 October, a fourth straight weekly fall.
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