Rupee Holds At 90.94 Against U.S. Dollar After RBI Intervention

The Indian rupee traded at 90.94 per U.S. dollar at the open on February 25, compared with the previous close of 90.95, moving within a narrow 6-paise range, as per interbank foreign exchange market data. The move follows intervention by the Reserve Bank of India on February 24 to defend the 91 mark.

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Market data showed that the rupee has traded within a range of around 30 paise during February. Dealers indicated that importers have been purchasing dollars at lower levels, while the RBI has been selling dollars to manage volatility, according to Reuters.

Dollar Index And Global Developments

The dollar index fell 0.1% to 97.12 overnight, according to Reuters data. Global currency markets reacted after the U.S. Supreme Court struck down certain reciprocal tariffs introduced by U.S. President Donald Trump. Following the ruling, a revised tariff structure was announced, including a 10% levy, with indications that it could rise to 15%, according to official statements reported by Reuters.

Currency dealers stated that movements in the dollar index and global tariff developments are being monitored closely. The rupee’s movement remained limited on February 25 despite fluctuations in global currency markets.

RBI Presence In the Forex Market

The RBI’s intervention on February 24 was aimed at defending the 91 level, according to traders cited by Reuters. The central bank does not routinely disclose its daily intervention data, but official foreign exchange reserve figures are published weekly.

The rupee has stayed close to its all-time low in recent sessions, with trading only happening in a small range. On February 25, the currency stayed in a narrow range, thanks to actions by the central bank and stable levels of the dollar index.

With the rupee trading at 90.94 against the U.S. dollar and the dollar index at 97.12, market participants are tracking RBI activity and global developments for further direction, based on available market data.