Persistent tariff pressures from Washington continued to weigh on India’s trade outlook and capital flows.
The currency had been range-bound in recent sessions, unable to move beyond 88.20 and 87.95 levels, as traders awaited progress in tariff negotiations between India and the United States.
Market participants also noted that the Reserve Bank of India (RBI) has been intermittently selling dollars near the 88.20 level to curb excessive volatility.
“For the day we expect the range to be between 87.80 and 88.30. The market sentiment is also driven by anticipation of the upcoming CPI release and expectations of a bigger size Fed rate cut,” Finrex Treasury Advisors LLP said in a note.
Meanwhile, the dollar index—which tracks the greenback’s performance against six major currencies—was up 0.05% at 97.82. Brent crude, the global oil benchmark, traded 0.10% lower at $67.42 per barrel in futures trade.
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First Published: Sept 11, 2025 2:32 PM IST
