Indian rupee slips to 96.30 as oil rises, foreign outflows
Business
The Indian rupee slipped to 96.30 against the US dollar on Monday, October 5, 2026, mainly because of higher oil prices and foreign investors moving their money out.
The currency had dipped below 96 on Thursday, October 1, 2026, before markets closed for Gandhi Jayanti.
RBI opens meeting amid rate-hike talk
The Reserve Bank of India kicked off a key policy meeting with talk of a possible rate hike due to global tensions pushing up inflation.
Meanwhile, India's forex reserves dropped $18.343 billion to $747.557 billion.
On the stock market front, the Sensex jumped 472.77 points even as foreign investors sold off big, showing local optimism but some caution from overseas players.