Indian Rupee Inches Up Against U.S. Dollar Ahead of RBI Rate Decision

The Indian rupee strengthened slightly, closing at ₹87.74 per U.S. dollar, up from ₹87.80 the previous trading session This modest recovery came as markets awaited today’s Reserve Bank of India (RBI) interest rate announcement.
Trade tensions with the United States, particularly around new tariff threats tied to India’s import of Russian crude oil, continue to underpin pressure on the rupee
The currency had come close to its all-time low of ₹87.95, touching ₹87.8850 before likely intervention from the RBI through state-owned banks helped limit further depreciation
Most economists in recent Reuters surveys expect no change to the key policy rate of 5.50%
Major lenders like SBI and ICICI Bank are advocating for a 25 basis‑point rate cut to boost growth, which could weaken the rupee beyond the critical ₹87.90–₹88.00 zone if implemented

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