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
Forex reserves at record high of $724 billion
Rupee slips on dollar outflows but logs its strongest weekly gain in over three years after India-US trade deal lifts sentiment
The rupee strengthened marginally on Thursday on modest inflows from a bond issue, but importer demand for dollars and foreign outflows kept gains limited ahead of the RBI's policy decision
The foreign lender had earlier forecast the currency at 90.50-91.00 levels
Rupee posts its biggest single-day gain in seven years as US tariff cut to 18 per cent boosts sentiment and triggers unwinding of speculative short positions
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
At the interbank foreign exchange market, the rupee opened at 90.30 against the US dollar, registering a gain of 119 paise over its previous close of 91.49
The government, along with the regulator, is carefully watching the rupee, which has slipped below the 90 mark against the US dollar, and may take measures once the situation becomes uncomfortable, Economic Affairs Secretary Anuradha Thakur said on Monday. "Anything above 90, everyone starts talking about it. Even, we start watching it carefully. It is a question of flows, and we are impacted by that," he told PTI in an interview. However, she said, a depreciating rupee does have a certain value in terms of export competitiveness whenever it happens. "We are watching together with regulators and other stakeholders. We will see how to handle it if a situation more than uncomfortable happens," she said. According to the Economic Survey 2025-26, the rupee depreciated by around 6.5 per cent between 1 April 2025 and January 22, 2026, making it one of the weakest-performing currencies in this period. Its fall was comparable to that of the Japanese yen, which lost about 5.5 per cent, and
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
RBI Deputy Governor T Rabi Sankar says rupee internationalisation aims to reduce risk for Indian firms, not replace the dollar, and warns that stablecoins pose macro risks
Economic Survey flags rupee pressure, stressing goods exports for currency stability as manufacturing stagnates and productivity gains outpace wage growth
Foreign investors have withdrawn roughly $4 billion from local equities in January, with bankers noting that external commercial borrowing and net foreign direct investment inflows also remain subdued
The Economic Survey 2025-26 highlighted three possible scenarios emerging in the year ahead that can have an impact on how the global economies shape up going ahead
CEA V Anantha Nageswaran said that inflation is largely contained, rainfall and agricultural prospects are supportive, external liabilities remain low, and banks are in good health
Trade deal with US could reverse the fortune of the Indian currency
The rupee hitting a historic low of 92 against the US dollar on January 23 is likely to make imports ranging from crude oil to electronic goods, overseas education and foreign travel costlier, stoke inflation concerns, but may offer some relief to exporters. The local currency has slumped by 202 paise, or over 2 per cent, so far this month. In 2025, it had plunged 5 per cent on unabated foreign fund outflows and dollar strength. The immediate impact of a depreciating rupee is on importers who will have to shell out more for the same quantity and price. India is 85 per cent dependent on foreign oil to meet its needs for fuels, such as petrol, diesel and jet fuel. However, it is a relief for the Indian exporters as they receive more rupees in exchange for dollars. Here is how a continuously weakening rupee is likely to impact spending: IMPORTS: The basket of Indian imports includes crude oil, coal, plastic material, chemicals, electronic goods, vegetable oil, fertiliser, machinery,
Market participants said exporters are staying cautious as trade talks remain stalled, reducing dollar inflows