Indian rupee slips to 90.95 per US dollar
The rupee slipped to 90.95 per US dollar on Tuesday, weighed down by a strong dollar and rising oil prices.
The currency hovered between 90.91 and 90.97 before closing lower, reflecting the pressure from global and local market jitters.
Analysts expect rupee to remain volatile in near term
Rising crude oil prices have weighed on the rupee. Market participants are watching for implications for inflation and external flows.
Analysts expect the rupee to remain volatile in the near term.
RBI may have stepped in to prevent rupee from breaching
The drop came alongside a sharp selloff in Indian stocks: Sensex slid over 1,000 points and Nifty fell nearly 290 points in one day.
Higher crude oil prices added stress, while uncertainty around US trade policy—including talk of new import tariffs—boosted the dollar further.
To keep things in check, the RBI may have stepped in to prevent the rupee from breaching 91 per dollar, even as foreign investors bought up Indian equities worth ₹3,484 crore on Monday.