Kamal Ghorui
The rupee bounced back on Friday morning, gaining 9 paise to trade at 91.90 against the US dollar. This recovery was helped by falling global oil prices but was limited by a strong dollar and foreign investors pulling money out of Indian stock markets.The currency started trading at 91.89 and briefly touched 91.87 before settling at 91.90 against the dollar in early trading. This was an improvement from Thursday’s close of 91.99. Just days earlier, on January 23, the rupee had hit its worst level ever at 92 against the dollar.The US dollar got stronger, with its index rising 0.36% to 96.48. This boost came after the US Federal Reserve kept interest rates unchanged in its first policy meeting of 2026. Meanwhile, global oil prices fell, with Brent crude dropping 1.50% to $69.62 per barrel.Indian stock markets weren’t doing well either. The Sensex fell by 520.07 points to 82,046.30, while the Nifty dropped by 157.65 points to 25,261.25. Foreign investors didn’t help, selling shares worth Rs 393.97 crore on Thursday.The Economic Survey presented in parliament highlighted concerns about the rupee’s performance. The survey noted that the rupee is “punching below its weight” and “investor reluctance to commit funds to India warrants examination at a time when inflation is under control and the growth outlook is favourable”.
