Rupee Rises 5 Paise To 88.74 Against US Dollar In Early Trade

2025-10-06 02:02:52

(MENAFN- Kashmir Observer)
File Photo

Mumbai – Rupee rose five paise to 88.74 against the US dollar in early trade on Monday, tracking a positive trend in domestic equities and likely IPO-related inflows.

Forex traders said the rupee is trading in a tight range as it remains under pressure due to continued capital outflows and geopolitical developments.

At the interbank foreign exchange market, the rupee opened at 88.75 against the US dollar, then inched up to 88.74, registering a gain of five paise from its previous close.

On Friday, the rupee depreciated eight paise to close at 88.79 against the US dollar.

“We are entering a new week with three major IPOs of We-Work, Tata Capital and LG, worth about Rs 31,000 crores. Inflows of these IPOs should take rupee up in the week towards 88.50 is the expectation for the day,” said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.

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