Rupee Strengthens 26 Paise to 89.92 Against US Dollar in Early Trade

Weaker Dollar and Falling Crude Prices Lift Sentiment​

The Indian rupee appreciated 26 paise to 89.92 against the US dollar in early trade on Wednesday, supported by a softer greenback and a sharp decline in global crude oil prices.

At the interbank foreign exchange market, the domestic currency opened at 90.20 against the US dollar and steadily strengthened through the session to touch 89.92, marking a notable intraday gain from its previous close.

Rupee Extends Recovery After Snapping Losing Streak​

The latest uptick builds on Tuesday’s recovery, when the rupee ended a four day losing streak by rising 12 paise to settle at 90.18 against the American currency. The early momentum on Wednesday reflects improved sentiment amid easing external pressures.

Dollar Index and Crude Oil Prices Ease​

The dollar index, which tracks the US currency against a basket of six major peers, was marginally lower at 98.52, providing room for emerging market currencies to stabilise.

Meanwhile, Brent crude oil prices declined sharply, with futures trading 1.05 percent lower at USD 60.06 per barrel. The fall in crude prices is positive for India, which is a major importer of oil, as it helps reduce pressure on the current account and inflation.

Equity Markets Trade Lower​

Domestic equity benchmarks opened on a weak note. The 30 share Sensex slipped 169.64 points to 84,909.30 in early trade, while the Nifty declined 42.35 points to 26,128.90, reflecting cautious sentiment in broader markets.

Foreign Investors Continue to Trim Holdings​

Foreign institutional investors remained net sellers in the equity market, offloading shares worth Rs 107.63 crore in the previous session, adding to near term volatility across asset classes.

Overall, the rupee’s early strength highlights the influence of global currency trends and commodity prices, even as domestic equities and foreign fund flows remain under pressure.