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 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
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
RBI intervention via dollar sales prevented the rupee from breaching the 92 mark, even as it closed at a fresh low amid FPI outflows and dollar strength
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,
The rupee fell to a fresh record low as foreign equity outflows, weak global risk sentiment and yen carry trade unwinding weighed on the currency, with RBI intervention limiting further losses
The Indian currency fell 77 paise to a fresh low of 91.75 against the US dollar on Wednesday
Renewed threats of tariffs by US President Donald Trump -- specifically targeting European nations over a dispute regarding Greenland -- have triggered a global "risk-off" sentiment
The rupee's depreciation is often seen as an opportunity - but this narrative overlooks its impact on borrowers of foreign-currency debt
At the auction, the central bank received 348 bids worth $29.94 billion and accepted 42 bids, with the cut-off premium set at 728 paise