Rupee

The currency was last up 0.15 per cent at 92.18, still close to its all-time low of 92.3475 hit in the previous session

Sunaina Da Cunha, Co-CIO (Debt) at Aditya Birla Sun Life AMC, said that the geopolitical situation in West Asia is likely to continue injecting volatility into the currency markets

An over 20 per cent ​jump in ‌oil prices triggered a broad-based ‌selloff in Asian stocks and currencies on ‌Monday as ​investors fretted over ​the deepening conflict in the Middle East

The scale of the intervention underscores the challenge the Reserve Bank of India faces in containing volatility triggered by the Middle East conflict that has entered its seventh day

After breaching 92 per dollar, the rupee rebounded sharply on RBI's heavy dollar sales, becoming the best-performing Asian currency even as geopolitical risks kept markets cautious

The rupee slid to a new low of 92.30 per dollar as tensions in West Asia drove crude higher, before recovering after RBI sold dollars and bought bonds to curb volatility

The domestic currency opened 55 paise weaker at 92.03 against the greenback, a day after closing at the 91.47 mark

The rupee saw its sharpest fall in over five weeks as crude oil prices surged on rising West Asia tensions; RBI interventions helped prevent the currency from breaching the 91.5-per-dollar level

The ‌traders noted that the central bank's dollar sales via state-run banks were not aggressive, and were likely intended to limit volatility

The outlook for the rupee may also be clouded by renewed uncertainty after the US Supreme Court struck down several of President Donald Trump's tariffs

The Indian rupee fell to its then-record low of 91.0750 on December 16, pressured by worries over a trade stalemate with the US and persistent foreign outflows

The rupee was headed for a largely flat open before the unexpected intervention, with Asian peers showing little reaction to the upside surprise in US payrolls

The rupee strengthened against the dollar tracking gains in Asian currencies, but upside was capped by strong dollar demand from large corporates, dealers said

The foreign lender had earlier forecast the currency at 90.50-91.00 levels

The rupee's gains come after India and the US reached a trade agreement following months of negotiations, although details of the pact are yet to be released

The rupee appeared on course to open near its all-time low of 91.9875 per dollar, but the RBI's intervention helped shore it up to 91.60, a gain of 0.4 per cent from its closing level on Friday

The central government raises its money from a mix of taxes, borrowings, and other receipts, while it is spent on states, interest payments and pensions

The rupee is down about 2.3 per cent so far this month and is headed for its worst monthly performance since September 2022

India's inflation rate will likely be higher in FY27 than in FY26

The rupee slid to an intraday low of 92 per dollar amid dollar demand and FPI outflows, with RBI intervention preventing a breach of the key psychological level