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The rupee depreciated 22 paise to 90.54 against the U.S. dollar successful aboriginal commercialized connected Wednesday (February 4, 2026), pursuing a crisp rally aft India and the U.S. agreed to a commercialized woody connected suspected dollar buying by corporates and importers.
Forex traders said contempt the affirmative sentiment station the India-U.S. commercialized deal, caution inactive remains arsenic determination is nary signed oregon officially released commercialized statement yet — nary model substance oregon last documentation.
At the interbank overseas speech market, the rupee opened astatine 90.35 against the U.S. dollar, past mislaid crushed and fell to 90.54, registering a nonaccomplishment of 22 paise implicit its erstwhile close.
On Tuesday (February 3, 2026), the Indian rupee emerged arsenic the best-performing Asian currency, registering a grounds summation of 117 paise oregon 1.28 per cent successful a azygous trading league to settee astatine 90.32 against the U.S. dollar, aft India and the U.S. agreed to a commercialized deal.
"After Tuesday's bully quality the rupee was backmost to its ain aforesaid of weakening arsenic RBI bought dollars towards the extremity to instrumentality the dollar up to 90.2650," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
Forex traders said investors are trading with caution arsenic the India-U.S. commercialized woody inactive awaits formalisation.
"Any sustained turnaround successful FII flows volition beryllium connected greater clarity astir the last operation and commitments wrong the deal," CR Forex Advisors MD – Amit Pabari said.
President Trump stated that India volition extremity purchases of Russian crude implicit an undefined timeline, portion expanding imports of U.S. energy, including lipid and coal, and perchance Venezuelan crude with U.S. approval.
"Moving distant from discounted Russian lipid could beryllium challenging for India, fixed its long-standing commercialized and strategical ties with Moscow, and whitethorn person implications for India’s vigor costs and outer balance," Mr. Pabari added.
According to Mr. Pabari, the 89.80–90.00 portion should enactment arsenic beardown support. "Ultimately, the directional cue for the rupee volition hinge connected confirmation of the last commercialized statement and its specifics. That clarity volition find whether this determination extends — oregon pauses for consolidation," helium said.
Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading 0.02 per cent little astatine 97.41.
Brent crude, the planetary lipid benchmark, was trading higher by 0.65% astatine $67.77 per tube successful futures trade.
On the home equity marketplace front, Sensex precocious 68.49 points to 83,816.96 successful aboriginal trade, portion the Nifty was up 51.90 points to 25,779.45.
Foreign Institutional Investors purchased equities worthy ₹5,236.28 crore connected Tuesday 9February 3, 2026), according to speech data.
