INR to USD: Rupee rises 7 paise to close at 90.87 against U.S. dollar

The rupee gained 7 paise to settle at 90.87 (provisional) against the U.S. dollar on Monday (February 23, 2026), aided by a sharp fall in global crude oil prices and a weaker greenback amid renewed global trade-related uncertainties.

However, foreign fund outflows, coupled with geopolitical concerns, capped gains for the local unit, forex traders said.

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At the interbank foreign exchange, the rupee opened at 90.76 and traded in the range of 90.67-90.89 against the greenback during the session. It eventually settled at 90.87 (provisional), up 7 paise from its previous close.

The rupee plunged 26 paise to settle at 90.94 against the U.S. dollar on Friday (February 20, 2026).

“Rupee rose to 90.67 but was not able to sustain gains as equities did not sustain the morning highs as debt yields rose. Despite the favourable verdict from the U.S. Supreme Court, the rupee did not make any big gains, and the dollar was bought on every dip by importers and other buyers like the FPIs,” Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, said.

The rupee is expected to be in the range of 90.60 to 91.00, he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.32% at 97.47.

Brent crude, the global oil benchmark, was down 0.39% at $71.49 per barrel.

On the domestic equity market front, Sensex went up 479.95 points to settle at 83,294.66, while the Nifty advanced 141.75 points to 25,713.

On Friday (February 20, 2026), foreign institutional investors offloaded equities worth ₹934.61 crore, according to exchange data.

India’s forex reserves jumped $8.663 billion to hit a new all-time high of $725.727 billion in the week ended February 13, the RBI said on Friday (February 20, 2026).