The rupee rebounded from its all-time low levels and ended with a gain of 7 paise at 91.58 against the U.S. dollar on January 22, 2026.
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The rupee gained 17 paise to trade at 91.41 against the U.S. dollar in early deals on Friday (January 23, 2026), as investor sentiments improved after U.S. President Donald Trump stepped back from tariff threats against Europe linked to Greenland, easing immediate trade-war fears.
Forex traders said Mr. Trump’s softer rhetoric reduced near-term geopolitical anxiety. Moreover, as investors’ risk appetite improved, the dollar corrected, allowing emerging market currencies — including the rupee — to recover slightly, they said.
Read | Is the falling rupee a cause for alarm?
At the interbank foreign exchange, the rupee opened at 91.45 then gained ground to trade at 91.41 against the dollar, up 17 paise from its previous close.
On Thursday (January 22, 2026), the rupee rebounded from its all-time low levels and ended with a gain of 7 paise at 91.58 against the U.S. dollar.
Forex traders, however, said the currency remains under severe pressure from persistent foreign fund outflows amid heightened global geopolitical uncertainties.
Read | With sharp fall, Rupee is Asia’s worst performing currency, may slide to 90, say analysts
The pending trade agreement with the U.S. remains a key stabilising factor. Until the geopolitical risk eases and the trade deal materialises, the rupee is likely to remain vulnerable to external shocks, they said.
“At current levels, a large portion of global risk appears to be priced into the rupee. This opens the door for a phase of consolidation and a possible partial recovery if risk sentiment stabilises.
Read I Include digital currency link on BRICS agenda: RBI to government
“The 92.00 level remains a strong resistance, while sustained RBI support could guide USD/INR back toward the 90.50–90.70 zone in the near term,” CR Forex Advisors MD Amit Pabari said in a research note.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.01% higher at 98.36.
Brent crude, the global oil benchmark, was trading 0.87% higher at $64.62 per barrel in futures trade.
On the domestic equity market front, Sensex fell 25.99 points to 82,281.38 in initial trade, while the Nifty rose 10.55 points to 25,300.45.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,549.80 crore on Thursday (January 22, 2026), according to exchange data.
Published – January 23, 2026 10:03 am IST
