Positive market sentiment boosted by a framework agreement on an interim trade pact between India and the United States saw the Indian rupee trade off at 90.44 against the U.S. dollar in early deals on Monday, February 9, 2026.
The domestic currency began the foreign exchange market at the interbank market with an opening of 90.66 per dollar and slowly started picking pace and reached an intraday peak of 90.44 which is quite a good recovery compared with its 90.37 close of the previous day. Rupee lost 31 paise on Friday, February 6, to close at 90.65, rising to the 90.70 mark only briefly in the world markets due to global uncertainties.
Forex traders explained the increase of the rupee by the rise of the risk appetite, a stable inflow of foreign funds, and the softening of the prices on the crude oil. The global oil standard known as the Brent crude was selling 0.94 per cent below the global oil benchmark of USD 67.41 per barrel in futures contracts which is a boost to the economies of oil importers such as India.
The local currency was also very well supported by domestic equity markets. The BSE Sensex rose 415.97 to 83,996.37, and the NSE Nifty rose 126.05 to 25,819.75 in a wide spread buying across markets.
Added to this good news, Foreign Institutional Investors (FIIs) became net buyers and maintained buying of equities worth 1,950.77 crore on Friday, as per exchange figures.
In the meantime the foreign exchange reserves of India have resumed increasing at a sharp pace, with an increase of USD 14.361 billion in a week ending January 30 taking the reserves to a new all time high of USD 723.774 billion, according to the data released by the reserve bank of India. This is in addition to a growth of USD 8.053 billion last week when reserves had hit the previous record of USD 704.89 billion in the month of September 2024.
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