Rupee Rebounds From Record Low, Closes 26 Paise Higher at 89.89/USD
The Indian rupee recovered strongly on Thursday after briefly touching a fresh all-time low, rising 26 paise to close at 89.89 against the US dollar. The rebound came on the back of a weaker US dollar index and reported intervention by the Reserve Bank of India (RBI), forex traders said.

Earlier in the day, the rupee had opened on a weak note and slipped to a new lifetime low of 90.43, pressured by sustained foreign investor outflows and elevated crude oil prices. Uncertainty surrounding the delayed announcement of the India–US trade deal also added to the currency’s downward movement.

Traders said the recovery began after the US dollar index softened, following ADP non-farm payroll data that came in sharply below expectations. The weaker dollar, coupled with speculation of RBI stepping in to stabilise the market, helped lift the rupee from record lows.

Market participants will now watch global cues, energy price trends, and developments on the India–US trade front for further direction.