The rupee touched a fresh low as crude oil prices crossed $100/bbl and global volatility rose, while bond yields eased later after the RBI's OMO purchase helped stabilise sentiment
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
The domestic currency opened 55 paise weaker at 92.03 against the greenback, a day after closing at the 91.47 mark
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 beginning of what could be a multi-decade journey has been made. It will be a slow, consistent process, not a hasty one that may cause disruptions
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 rupee slipped amid muted global risk appetite and firm US yields, though RBI intervention helped cap losses, while forex reserves hit a new record of $725.7 billion
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
Indian unit settles at 90.64 per dollar as RBI intervenes via dollar sales; forex reserves drop $6.7 billion in week ended February 6 on decline in gold holdings
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