Indian Rupee Steady Near 88.79 Against US Dollar; Nifty 50 Index Closes 0.34% Lower

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The Indian Rupee held steady at 88.79 per US dollar as of 3:30 p.m. IST on October 8, 2025, showing little change from the previous close of 88.77. Meanwhile, India’s benchmark Nifty 50 index provisionally ended the day 0.34% lower amid mixed investor sentiment.

On October 8, 2025, the Indian Rupee (INR) remained nearly unchanged, trading at 88.79 against the US dollar, reflecting stability in currency markets despite global economic challenges. The close proximity to previous session’s level of 88.7725 indicates a cautious stance among traders balancing external pressures.

Simultaneously, the Nifty 50 index, India’s leading equity benchmark, provisionally concluded the trading day down by 0.34%, signaling mild bearish sentiment in Indian equity markets. The dip comes amid ongoing concerns over global market volatility and domestic economic factors influencing investor confidence.

Important points from today’s market session include:

The USD/INR exchange rate hovered near 88.79, a marginal increase from prior levels, maintaining stability after last week’s near-record lows of 88.80.

The Indian Rupee has shown resilience despite the US dollar rallying to a six-week high on strong economic data and rising treasury yields abroad.

Market participants monitored potential Reserve Bank of India (RBI) interventions amid speculation on currency defense measures to limit excessive INR depreciation.

The Nifty 50’s 0.34% fall reflects cautious selling pressure in sectors sensitive to global cues such as IT, banking, and energy stocks.

Broader market sentiment was influenced by mixed corporate earnings reports, lingering geopolitical concerns, and inflationary pressures.

Domestic investors balanced optimism in select growth stocks against risks from higher crude oil prices and tightening monetary policies.

Foreign institutional investors (FIIs) showed moderate activity, contributing to market fluctuations but maintaining a watchful approach.

Analysts expect the Rupee to trade in a narrow range near current levels in the short term, with possible volatility tied to global dollar movement and domestic macroeconomic developments.

In summary, the Indian Rupee’s steady stance near 88.79 per US dollar and the modest decline in the Nifty 50 index illustrate a market in equilibrium amid evolving global and domestic conditions. Investors remain vigilant for cues from central bank policies and international factors influencing financial markets.

Sources: Trading Economics, Reuters, Mumbai Port Trust, Wise Currency Converter, Yahoo Finance

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