The rupee experienced some fluctuation during morning trading on September 15, 2025, weakening by four paise to 88.30 against the US dollar. This decline was influenced by tariff-related pressures affecting India’s exports, which in turn weighed on investor sentiment.
Forex traders noted that the rupee was caught in a tight range due to a combination of US trade tariffs, continuous outflows of foreign portfolio investments, and concerns over potential US interest rate cuts.
In the interbank foreign exchange market, the rupee started off at 88.25 but dipped to a low of 88.30 against the dollar, marking a four paise decrease from the previous close.
On the previous Friday, September 12, 2025, the Indian rupee had bounced back from an all-time low by gaining nine paise and closing at 88.26.
One trader mentioned that while the rupee is under pressure, interventions by the Reserve Bank of India (RBI) help manage volatility and curb rapid depreciation. Recently, the RBI allegedly sold between $5 million to $6 billion to support the currency. These actions are crucial amid growing international trade tensions, aiming to foster market confidence.
Attention is now shifting towards the Federal Reserve’s upcoming decision on interest rates scheduled for September 17th, as speculations about potential cuts cast uncertainty over the future strength of the dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a mix of six currencies, edged up by 0.07% to reach 97.61.
In the global market, Brent crude oil prices saw an increase of 0.58%, trading at $67.38 per barrel in futures.
Looking at domestic stock markets, the Sensex rose by 93.81 points in early trading to 81,998.51, and the Nifty gained 24.45 points, reaching 25,138.45.
According to exchange data, foreign institutional investors bought shares worth ₹129.58 crore on Friday.
Additionally, data from the Reserve Bank reported a significant rise in the National Forex Reserve, which jumped from $4.038 billion to $69.8268 billion, reflecting an increase attributed to gold reserves for the week ending September 5th.
U.S. Secretary of Commerce Howard Lutnick recently commented that New Delhi needs to lower its tariffs, suggesting that the US faces “hard times” in its business dealings with India. He made these remarks during an interview on September 13, 2025, responding to questions about whether the US mistreated its essential trading relationships with countries like India, Canada, and Brazil, which have faced tariffs.
Lutnick expressed frustration, stating, “Relationships are one way. They sell to us, they take advantage of us. They block us from the economy.”
Published – 10:15 AM IST, September 15th, 2025
