Rupee bounces back to 89.88 against the dollar
The Indian rupee made a small comeback, closing at 89.88 per US dollar after slipping for two weeks.
This turnaround happened after the Reserve Bank of India (RBI) stepped in and sold about $2 billion to stop the slide and keep things steady.
Why does this matter?
The RBI's move was its first big action of 2026, aiming to keep the rupee from dropping below that key level of 90—especially with foreign investors still pulling money out of Indian stocks.
State-run banks helped by selling dollars early in the day, which pushed traders to rethink their bets and brought some calm back to the market.
What's behind all this?
The rupee has been under pressure thanks to ongoing foreign investor outflows and delays in a US-India trade deal.
After struggling against other Asian currencies for much of last year, some experts think it could weaken further—possibly hitting 94 by year-end—but for now, most expect it to hover between 89.50 and 90.50 this month.