USD to INR Today Rupee Near ₹96.40 After RBI Hikes Repo to 5.50%, 7 Oct 2026
USD to INR Today ₹96.40 After RBI Hikes to 5.50% 7 Oct 2026
Last updated: 7 October 2026, 10:50 AM IST | 1:20 AM ET | 6:20 AM UK | 7:20 AM CEST | 1:20 PM SGT/HK | 2:20 PM JST
ASIA FX WATCH: The Reserve Bank of India raised the policy repo rate by 25 basis points to 5.50% on Wednesday, the first hike since February 2023, and shifted its stance to “calibrated tightening.” The rupee is trading near ₹96.35–96.45 after the announcement. Spot gold is around $4,135–4,150 an ounce. Delhi 24K gold is quoted near ₹1,49,280–1,49,600 per 10 grams. Brent is holding around $101.40–101.60 a barrel. The hike was widely expected, so the rupee barely moved. Track it on our live USD/INR chart.
- RBI hikes repo rate by 25 bps to 5.50% and changes stance to calibrated tightening.
- USD/INR is trading near ₹96.35–96.45 after the decision.
- Governor Sanjay Malhotra said rate cuts are off the table in the near term.
The MPC raised the repo rate by 25 bps to 5.50% and changed the stance to calibrated tightening. Governor Sanjay Malhotra said rate cuts are off the table in the near term. The RBI also lifted its FY27 inflation forecast to 5.2% from 4.8%.
The rupee is trading near ₹96.35–96.45 after the announcement. Oil holds near $101 and gold is range-bound.
Future policy can only be a hike or a pause. Markets will watch the Governor’s press conference and any guidance on the path ahead.
RBI has delivered the expected 25 bps hike. The bigger signal is the shift to calibrated tightening and the clear message that rate cuts are off the table.
📊 USD to INR Today: Live Market Snapshot
| Currency / Asset | Current Level | Bias | Source |
|---|---|---|---|
| USD to INR | ₹96.35–96.45 | Post-RBI range | TradingEconomics |
| SGD to INR | ₹75.20–75.35 | Steady | Xe |
| EUR to INR | ₹108.25–108.50 | Soft | Xe |
| AED to INR | ₹26.22–26.28 | Tracks USD | Xe |
| Brent Crude | ~$101.40–101.60 / bbl | Edging up | OilPrice.com, Investing.com |
| Gold Spot | $4,135–4,150 / oz | Range-bound | USAGold |
| India 24K Gold | ₹1,49,280–1,49,600 / 10g | Slightly firmer | Goodreturns, Financial Express |
📐 Technical Levels to Watch
| Zone | USD/INR | What it means |
|---|---|---|
| Resistance | ₹96.50–96.60 | Next ceiling after RBI. |
| Breakout zone | Above ₹96.60 | Opens path toward ₹96.80–97.00. |
| Support | ₹96.20–96.30 | Near-term floor. |
🔍 Key Market Drivers
- The Trigger: MPC raised repo rate by 25 bps to 5.50% and shifted stance to calibrated tightening.
- Market Pulse: Governor Malhotra said rate cuts are off the table in the near term, and the RBI lifted its inflation forecast to 5.2% from 4.8%.
- Your Money: Deposit rates and EMIs are likely to edge higher in the coming weeks.
- The Trigger: Brent holds near $101.40–101.60.
- Market Pulse: Oil above $100 continues to support the case for tighter policy.
- Your Money: Higher oil keeps pressure on the current account and the rupee.
- The Trigger: Treasury yields remain firm, supporting the dollar.
- Market Pulse: The dollar’s strength limits how much the rupee can recover.
- Your Money: Remitters should still compare mid-market rates carefully.
🌏 Asia FX Watch: SGD, CNY and JPY to INR
| Currency | Rate in INR | ₹ for 1,000 units |
|---|---|---|
| Singapore dollar (SGD) | ₹75.20–75.35 | ₹75,200–75,350 |
| Chinese yuan (CNY) | ₹14.36–14.40 | ₹14,360–14,400 |
| Japanese yen (JPY) | ₹0.610–0.613 | ₹610–613 |
Other amounts are in our conversion tables.
🌍 Send Money to India: US, Singapore, Germany, China and Japan Rates
| Scenario | USD/INR | ₹ received for $10,000 |
|---|---|---|
| Near support | ₹96.25 | ₹9,62,500 |
| Current level | ₹96.40 | ₹9,64,000 |
| Resistance | ₹96.55 | ₹9,65,500 |
The support-to-resistance gap is only about ₹3,000 on $10,000, while a 2% provider spread costs roughly ₹19,300. Compare providers using our forex calculators and TCS calculator.
- United States (USD to INR): Near ₹96.35–96.45.
- Singapore (SGD to INR): Near ₹75.20–75.35.
- Germany (EUR to INR): Near ₹108.25–108.50.
- China (CNY to INR) and Japan (JPY to INR): See the Asia table.
🔮 Today’s Outlook
The RBI has delivered the expected hike and sent a clear tightening signal. Because the move was widely priced in, the rupee barely reacted, and it is likely to stay range-bound near ₹96.35–96.50 unless oil or the dollar moves sharply. Some analysts now expect a second 25 bps hike in December, so the Governor’s press conference matters. Follow our economic calendar for the next triggers.
❓ Quick FAQs
What did the RBI decide today?
The RBI raised the repo rate by 25 basis points to 5.50% and changed the stance to calibrated tightening. It is the first rate hike since February 2023.
How many rupees is $1,000 today?
At ₹96.35–96.45, $1,000 converts to about ₹96,350–96,450 at mid-market rates, before provider fees.
Will EMIs rise after this hike?
Loans linked to the repo rate usually reset higher within a month or two, and deposit rates may edge up. Fixed-rate loans do not change.
How many rupees is S$1,000 or €1,000 today?
S$1,000 is about ₹75,200–75,350 and €1,000 about ₹1,08,250–1,08,500 at mid-market, before provider fees.
Disclaimer: Rates are indicative mid-market levels and not investment advice. Confirm bank rates before sending money.
