Rupee climbs to 90.12 against US dollar—here's what's behind the move
The rupee got a boost on Tuesday, rising by 18 paise to 90.12 against the US dollar in early trade.
This upswing mainly came from a weaker dollar and cheaper global oil prices, even as world events kept things tense.
The US dollar index traded slightly higher after some disappointing economic data in the States, hinting that rate cuts might be on the table, although the dollar eased after the US ISM Manufacturing PMI came in lower than expected.
Oil prices drop, RBI steps in, markets react
With Brent crude dipping to $61.57 a barrel, the rupee found extra support—but ongoing geopolitical worries like US actions in Venezuela kept investors cautious.
The Reserve Bank of India tried to steady the currency but stepped back as demand for dollars stayed strong.
Meanwhile, foreign investors pulled out ₹36 crore from Indian stocks and the Sensex dropped over 430 points—showing just how much global and local factors are shaping where the rupee goes next.