Rupee opens 26 paise higher at 90.46 against dollar

Indian Rupee

The rupee opened 26 paise higher on February 12 as the dollar remained muted even after positive jobs data reduced chances of an immediate rate cut by the US Federal Reserve.

The rupee was trading at 90.46 to the dollar after ending the previous session at 90.70.

Overnight data from the United States showed stronger-than-expected job numbers, which diluted a case for a rate cut from the Federal Reserve.

The US added 130,000 jobs, significantly exceeding the 70,000 forecast and marking the strongest pace since December 2024.

The dollar index, which measures the value of the United States currency against a basket of six major world currencies, rose to near 97 levels, moving alongside higher treasury yields before marginally pulling to trade at 96.79.

Focus still remains on domestic and foreign inflows, while importers also look to take advantage of the current levels the rupee is trading at.

Traders expect the rupee to trade between 90.40 and 90.95 in the near term.

The rupee remains under pressures as persistent demand continues to offset gains. “Inflows are not strong enough to sustain a stronger rupee despite a falling dollar, Finrex Treasury Advisors analysts said.

Traders will now be tracking the consumer price index (CPI) data from the US to take fresh bets on the rupee.