Rupee Value
Rupee's real effective exchange rate index rose to 97.47 in Oct vs 97.40 in Sept
This story was originally published at 19:50 IST on 24 November 2025
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--RBI: Rupee effective FX rate index 97.47 in Oct vs 97.40 in Sept
--CONTEXT: Real FX rate index for trade-weighted, 40-currency basket
NEW DELHI – The rupee's real effective exchange rate index, based on a basket of 40 currencies in terms of trade-based weights, rose slightly to 97.47 in October, recovering from a seven-year low of 97.40 in September, according to data released by the Reserve Bank of India Monday. However, the print indicates that the Indian currency is undervalued by nearly 3%.
The rupee was steady against the dollar in October, primarily due to the RBI's continued intervention through dollar sales. The dollar index, which measures the strength of the dollar against six major currencies, rose almost 2% last month amid uncertainty over the US Federal Reserve's rate cut cycle and a prolonged government shutdown. Even though the rupee remained stable against the dollar in October, its real effective exchange rate rose as other currencies fell sharply against the greenback.
The 40-currency basket includes currencies of Angola, Australia, Bangladesh, Brazil, Canada, Chile, China, Egypt, the European Union, Ghana, Hong Kong, Indonesia, Iran, Iraq, Israel, Japan, Kenya, Kuwait, Malaysia, Mexico, Nepal, Nigeria, Oman, Qatar, Russia, South Korea, Saudi Arabia, Singapore, South Africa, Sri Lanka, Switzerland, Taiwan, Tanzania, Thailand, Turkey, Ukraine, the United Arab Emirates, the UK, the US, and Vietnam. End
US$1 = INR 89.23
Reported by Pratiksha
Edited by Ashish Shirke
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