Rupee weakens over 5% as reserves decline
India’s rupee fell more than 5% over 10 months while Pakistan’s currency gained 1.25%. RBI data showed India’s foreign-exchange reserves declined $1.269 billion week-on-week to $719.748 billion as of 23 Oct 2026.
after close1 source ↓machine-written, see hownot a recommendation
- NIFTY close
- ₹23,053
- On the day
- +0.51%
- 52-week high
- ₹23,489
- 52-week low
- ₹22,180
India’s rupee weakened by more than 5% against the US dollar over the past 10 months, while Pakistan’s currency strengthened 1.25% over the same period, according to Prabhat Khabar. The report linked the comparison to foreign-exchange reserves, which provide a buffer for meeting external payment needs and managing currency-market pressure 💱.
The Reserve Bank of India’s weekly report, released on 30 Oct 2026, showed foreign-exchange reserves at $719.748 billion for the week ended 23 Oct. Reserves stood at $721.016 billion in the previous week ended 16 Oct, marking a weekly decline of $1.269 billion. The figures show a reduction in the reserve stock, but the report excerpt does not establish that reserves alone caused the rupee’s depreciation or that the reserve position is exhausted.
For equity and derivatives traders, a weaker rupee can affect sectors differently. Export-oriented businesses may receive more rupees for overseas revenue, while companies dependent on imported crude, equipment, components or foreign-currency liabilities face higher input or financing costs. The reserve trend also matters because sustained currency pressure can influence imported inflation, liquidity conditions and corporate earnings expectations 🏦.
OI Charts data showed the Nifty 50 at ₹23,053 on 30 Oct 2026, up 0.5% on the day and 1.2% over 20 sessions. Its 52-week range was ₹22,180 to ₹23,489, placing the index close to the upper end of that range despite the currency concern. In the technology sector, TCS closed at ₹2,503, up 1.0% on the day and 20.9% over 20 sessions. Its futures showed short covering, with open interest down 1.5% and a 0.49% premium. The ₹2,500 strike had the largest call open interest and was also the max-pain level, while the largest put open interest stood at ₹2,300.
Traders will watch the RBI’s next weekly reserve update, subsequent rupee performance against the dollar and the effect of currency moves on imported-cost sectors and export earnings. The ₹22,180 and ₹23,489 levels remain the recent 52-week low and high for the Nifty, respectively.
Source: Prabhat Khabar, 01 Nov 2026
Not investment advice. For informational purposes only.