The rupee pared intra-day losses to settle flat at 88.69 (provisional) against the American currency on Friday (October 31, 2025), as weak domestic equities and a firm US dollar in overseas markets offset the gains from lower crude oil prices.
At the interbank foreign exchange market, the rupee opened at 88.60 and touched a high of 88.59 and a low of 88.78 against the greenback during the session. The local unit finally settled at 88.69 (provisional), unchanged from its previous closing level.
On Thursday (October 30, 2025), the rupee crashed 47 paise to settle at 88.69 against the U.S. dollar after the U.S. Federal Reserve Chair Jerome Powell flagged U.S. inflation staying above the target level and uncertainties in the labour market, trimming hope for a further rate cut in the December policy.
The U.S. Fed, however, reduced interest rates by 25 basis points, in line with expectations.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04% to 99.39.
Brent crude, the global oil benchmark, fell 0.68% to $64.56 per barrel in futures trading.
