Rupee rises 49 paise to 89.17 against U.S. dollar in early trade

The rupee rebounded on Monday (November 24, 2025) from record lows, rising 49 paise to 89.17 against the greenback in early trade on U.S. dollar selling by banks and a dip in global crude oil prices.

A positive opening in the domestic equity markets and intervention by the Reserve Bank of India (RBI) lent support to the domestic unit, according to forex traders.

The rupee plunged 98 paise to close at its lifetime low of 89.66 against the U.S. dollar on Friday (November 21, 2025), due to a huge demand for the greenback in the domestic forex market amid widespread selling pressure in local and global equities and trade-related uncertainties.

In the steepest fall in over three years, the domestic currency nosedived 98 paise to finally settle at 89.66 against the American currency.

The previous biggest one-day fall was recorded at 99 paise against the dollar on February 24, 2022.

“Most traders believe that rupee may not cross 90 as it may remain protected for a few more weeks and expect a positive (India-U.S.) trade deal outcome by December-end. The market is bracing for more weakness after the rupee slid to a record low on Friday (November 21),” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

In the absence of a trade deal, the 90-mark doesn’t seem quite distant now, he added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was marginally up by 0.01% at 100.18.

Brent crude, the global oil benchmark, was trading 0.10% lower at $62.50 per barrel in futures trade.

On the domestic equity market front, the Sensex climbed 218.44 points to 85,450.36 in early trade while Nifty was up 69.4 points to 26,137.55.

Foreign institutional investors sold equities worth ₹1,766.05 crore on a net basis on Friday (November 21, 2025), according to exchange data.

Forex reserves jumped $5.543 billion to $692.576 billion during the week ended November 14 due to a steep increase in the value of gold reserves, the RBI said on Friday (November 21).