Thursday, February 5, 2026, saw the Indian rupee gain by 14 paise to close at 90.33 (provisional) against the U.S. dollar and these gains were enabled by the optimism regarding trade talks and an abrupt reduction in global commodity prices overnight. Nonetheless, domestic currency gains were minimal with market participants making more demands on the nature of the contours of the proposed India U.S trade deal.
The rupee was weaker in the interbank foreign exchange market, where it started trading at 90.52 per against the greenback. It reached a low of 90.53 in the volatile trading and reached an early high of 90.06 during the session. The currency finally stabilized at 90.33, which is a gain of 14 paise as compared to its last closing price.
The dollar was not very weak in the rest of the world even at a time the rupee was appreciating. The dollar index that tracks the performance of U.S. currency against a basket of six major currencies was up 0.29 per cent at 97.90, which indicated persistent demand of greenback.
In the meantime, the prices of crude oil relaxed further and this brought some relief to the economies that are largely influenced by imports such as India. There was a 1.43 per cent decline in the price of the global oil standard benchmark, Brent crude, which stood at $68.47 per barrel in the futures market, which has helped in taming the effects of inflation, and in favour of the rupee.
Markets on the domestic equity sector saw a sharp sell-off. BSE Sensex went down by 503.76 and closed at 83,313.93 and the NSE Nifty dropped by 133.20 and closed at 25,642.80.
Foreign Institutional Investors (FIIs) provided little support to shares, buying them in the value of 29.79 crore on Wednesday as per the exchange data. The mood in the market is still not positive because investors are following the signals in the world markets, the trade news, and the dynamics in the commodities and the American dollar.
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