Overview
- The Indian rupee settled provisionally at 87.78 to the dollar on October 24, up 10 paise after trading between 87.63 and 87.85.
- Optimism around India–US trade talks and a decline in Brent crude supported the currency, with oil futures hovering near $65.9 a barrel.
- Gains were limited by foreign investor equity outflows of Rs 1,165.94 crore, a firmer dollar index near 99.03, and weak domestic equities.
- The Sensex fell 344 points to 84,211.88 and the Nifty dropped 96 points to 25,795.15, reflecting cautious risk sentiment.
- Analysts flagged reported RBI presence near 87.95 to hold the 88.00 level and projected a short-term USD/INR range of 87.45–88.10 ahead of U.S. inflation data.