Indian Rupee Appreciates 11 Paise to 90.84 in Early Trade Amid Weaker US Dollar

Indian Rupee (INR) Update - February 26

The Indian Rupee (INR) appreciated by 11 paise against the US dollar, trading at 90.8400 to the dollar, compared to Rs 90.9500 per dollar. This development comes as investors await further cues on the changes to the US tariff structure.

The Rupee has been trading within a narrow range throughout the month, with the Reserve Bank of India (RBI) likely intervening to prevent the currency from falling below Rs 91 per dollar. Traders believe that the RBI has been selling the US dollar in both the spot and forwards markets to stabilize the currency.

Meanwhile, importers, particularly oil companies, have been accumulating dollars due to high Brent crude prices, which have remained above $70 per barrel. The dollar index, which measures the strength of the US dollar against six rivals, fell 0.2 percent to 97.55.

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The US has announced that the tariff rate for some trading partners will rise to 15 percent from 10 percent, although no specific countries were named. This development follows the US Supreme Court's ruling striking down President Donald Trump's tariffs, further complicating the situation.