Rupee bounces back: Closes at ₹89.45 against the dollar
The Indian rupee is making a comeback, trading at ₹89.45 per US dollar in early trade on Monday—up 22 paise from before.
After weakening beyond 91 per dollar not long ago, it's now showing signs of steady recovery, thanks in part to likely intervention by the Reserve Bank of India.
What's behind the rupee's rise?
A mix of fresh corporate dollar inflows and falling oil prices has helped boost the rupee.
Plus, foreign investors have been putting their money into Indian stocks—FIIs bought over ₹1,800 crore recently.
With India's forex reserves also climbing by nearly $1.7 billion last week, things are looking up for the currency.
Looking ahead
According to SBI, this recent weakness is just a phase and not a long-term problem—they expect the rupee to recover even more strongly between late 2026 and early 2027.