The rupee traded in a narrow range and edged up by 4 paise to 95.03 against the US dollar in early trade on Wednesday, October 28, 2026.
At the interbank foreign exchange market, the rupee recorded marginal gains over its previous close of 95.07 on Tuesday.
Forex traders said the rupee remains under pressure amid persistent macroeconomic headwinds, including dollar strength and Brent crude prices hovering near $115 per barrel. Brent crude, the global oil benchmark, was trading higher by 1.37% at $115.44 per barrel in futures trade.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 102.37, higher by 0.06%.”We expect the rupee to trade with a slight negative bias on positive dollar and weak Asian currencies. Crude oil prices remain elevated which may also keep rupee under pressure,” said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan.
Any intervention by the Reserve Bank of India may support the rupee at lower levels, traders said. Investors are eyeing the Federal Open Market Committee decision, with markets expecting the Fed to keep rates unchanged.
On the domestic equity front, Sensex tumbled 601.14 points to 72,997.55 in early trade, while Nifty fell 146 points to 22,604.80. Foreign Institutional Investors bought equities worth Rs 4,240.39 crore on Tuesday.
