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The rupee witnessed range-bound commercialized successful the greeting league connected Friday (January 2, 2026), appreciating by 6 paise to 89.92 against the US dollar arsenic bladed liquidity conditions accentuated mundane demand-supply imbalances, keeping the rupee tilted toward weakness.
Forex traders said the USD/INR brace is expected to commercialized successful a constrictive scope arsenic the 90 level is being protected by the Reserve Bank of India.
Moreover, the enactment from affirmative home equities was offset by sustained overseas money outflows.
At the interbank overseas speech market, the rupee opened astatine 89.95 against the U.S. dollar, past gained immoderate crushed and touched 89.92, rising by six paise from its erstwhile close.
On Thursday, the rupee depreciated 10 paise to adjacent astatine 89.98 against the U.S. dollar.
"Unless RBI comes and sells dollars heavily, the question is going to beryllium successful tiny ranges arsenic seen successful the past 3 sessions. The brace is seen successful a holding signifier betwixt 89.80 and 90, considering the constrictive range," said Anil Kumar Bhansali, Head of Treasury and Executive Director astatine Finrex Treasury Advisors LLP.
Bhansali further noted that firm demand, FPI demand, and authorities request person been the salient features of the rupee implicit the past year, during which it fell by much than 5% and became the worst-performing Asian currency, though partially protected by the RBI.
Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading marginally down by 0.15% astatine 98.17.
Brent crude, the planetary lipid benchmark, was trading 0.38 per cent higher astatine $61.08 per tube successful futures trade.
"With early-year liquidity inactive bladed and home fundamentals offering a mixed but unchangeable backdrop, the rupee appears acceptable to stay range-bound successful the adjacent term. As agelong arsenic USD/INR stays beneath the 90 handle, the equilibrium of risks tilts mildly successful favour of the rupee," CR Forex Advisors MD Amit Pabari said, adding that against this backdrop, USD/INR is expected to commercialized successful a 89.30–90.20 range.
On the home equity marketplace front, the 30-share benchmark scale Sensex climbed 158.19 points to 85,346.79 successful aboriginal trade, portion the Nifty was up 55.8 points to 26,202.35.
Foreign organization investors offloaded equities worthy Rs 3,268.60 crore connected Thursday, according to speech data.
On the home macroeconomic front, gross GST collections roseate 6.1% to implicit ₹1.74 lakh crore successful December 2025, connected dilatory maturation successful revenues from home income pursuing the sweeping taxation cuts, according to authorities information released connected Thursday (January 1, 2026).
Gross Goods and Services Tax (GST) gross successful December 2024 was implicit ₹1.64 lakh crore.
