Rupee slips 11 paise to 90.77 as India-US framework weighs on markets
Rupee slips 11 paise to 90.77 as India-US framework weighs on markets
Rupee softens to 90.77 amid cautious trading after the India-US interim framework; RBI seen ready to intervene as near-term support holds at 90.00-90.20.
The rupee depreciated 11 paise to 90.77 against the U.S. dollar in early trade on Tuesday, February 10, 2026, as markets priced in caution following the India-U.S. interim trade framework. It opened at 90.63 per dollar and briefly touched 90.77 before seeing limited moves so far. On Monday, the rupee closed slightly lower at 90.66 per dollar.
Forex traders said at first glance, the India-U.S. framework looked constructive. It avoided immediate disruptions, set a roadmap for negotiations, and reassured exporters that nothing would break overnight. But as the market dug deeper, the optimism began to fade. "The agreement places India under ongoing U.S. oversight, particularly around energy imports from Russia — a sensitive issue that leaves room for penalties to be reimposed at any time," said a market analyst.
In the near term, the 90.00–90.20 zone stands out as a very strong support area. As long as this region holds, USD/INR may gradually drift higher toward 91.00–91.20 in the coming days, according to traders. A key anchor remains the Reserve Bank of India, with expectations that the RBI will step in with dollar purchases on rupee dips, absorbing inflows rather than allowing sharp appreciation.
Foreign investors have shown some improvement, with nearly USD 2 billion in inflows into the Indian market this month. While this has helped stabilise sentiment, participants remain unconvinced about the durability of these flows amid shifting global policy signals. The currency market continues to price in caution rather than celebration.
Overall, traders are adopting a cautious stance as markets await more clarity on the framework’s implementation and its impact on energy-related trade and penalties.
