Indian Rupee Opens Slightly Lower Against US Dollar at 90.93

The Indian rupee began Tuesday’s session on a softer note, opening at 90.93 per US dollar, down slightly from the previous close of 90.91. The movement underscores a cautious tone in the currency market, with traders closely monitoring global and domestic factors influencing exchange rates.

Key Highlights:

• Opening Level: Rupee at 90.93 per US dollar.
• Previous Close: 90.91, showing a marginal depreciation.
• Global Drivers: Dollar strength amid U.S. Federal Reserve policy expectations and global risk sentiment.
• Domestic Factors: Upcoming Union Budget, inflation trajectory, and capital flows remain key influences.
• Crude Oil Impact: Volatility in oil prices continues to weigh on India’s import bill and currency outlook.
• Investor Sentiment: Reflects a wait-and-watch approach as markets balance external pressures with domestic fundamentals.

The rupee’s slight decline highlights the delicate balance between global headwinds and India’s economic resilience, with traders expected to remain cautious until clearer signals emerge from both international and domestic developments.

Sources: Reuters, Reserve Bank of India