Rupee began February on a stronger note, rising 18 paise to 91.75 against the US dollar in early trade on Monday. The gain comes after last week’s weakness, when the currency had slipped to the 92 mark against the greenback.Earlier on Friday, rupee had hit an all-time low of 92.02 before recovering to close 6 paise higher at 91.93, weighed down by a firm US dollar and lingering geopolitical concerns. According to forex traders, subdued domestic equities also limited gains, affecting investor sentiment. At the interbank foreign exchange, the rupee initially strengthened to 91.82 from an opening of 91.89, before dipping to its record low of 92.02. Thursday had seen the rupee finish flat at 91.99, after previously touching 92 per dollar on January 23. According to CR Forex Advisors MD Amit Pabari, “Union Budget 2026 did not arrive with fireworks. Instead, it stayed firmly on the path of continuity — focusing on growth, stability, and fiscal discipline. Short-term pressure may persist, but the broader message of fiscal credibility and growth continuity keeps medium-term prospects constructive.” Meanwhile, Reserve Bank of India data showed that the country’s forex reserves climbed by $8.053 billion to an all-time high of $709.413 billion for the week ended January 23, following a $14.167 billion jump in the previous week. Foreign institutional investors were net sellers, offloading equities worth Rs 588.34 crore, according to exchange data.Brent crude, the global oil benchmark, slipped 4.24% to $66.38 per barrel in futures trade, as talks between the US and Iran focused on avoiding American strikes on Iranian territory. The commodity had earlier spiked to $72 per barrel over the weekend amid concerns of a possible US attack.
