Rupee recovers 10 paise from all-time low to 91.80 against US dollar in early trade
Mumbai (PTI): The rupee rebounded from its all-time low levels and gained 10 paise to trade at 91.80 against the US dollar in early deals on Tuesday, as the dollar index retreated from its elevated levels.
Forex traders said the rupee recovered marginally as traders rushed to cover broad dollar weakness.
At the interbank foreign exchange, the rupee opened at 91.80 against the greenback, up 10 paise from its previous close.
On Friday, the rupee hit a historic low of 92 per dollar and gained marginally to settle at 91.90 against the American currency.
Forex and equity markets were closed on Monday for Republic Day.
"The dollar index was down sharply to a four-month low of 96.80 amid pre-FOMC positioning as it has weakened 0.98 per cent over the past month," Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said in a research note.
According to forex traders, the rupee remains under severe pressure from heightened global geopolitical uncertainties, weak domestic equities, persistent dollar demand, and unabated capital outflows.
The pending trade agreement with the US remains a key stabilising factor. Until the geopolitical risk eases and the trade deal materialises, the rupee is likely to remain vulnerable to external shocks, they said.
Meanwhile, US Treasury Secretary Scott Bessent has said there is a "path" to remove the 25 per cent tariffs imposed on India for buying Russian oil, noting that such purchases by Delhi from Moscow have "collapsed".
United States President Donald Trump has imposed 50 per cent tariffs on India, including 25 per cent for its purchases of Russian oil, leading to a strain in the bilateral ties between the two countries.
"Year ahead forecasts point to continued rupee weakness tied to FPIs' selling of equities and debt, weakness in Indian stock markets and RBI's oversold position. The only factor positive for the rupee is its undervaluation by about 5 per cent," Bhansali added.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 97.01.
Brent crude, the global oil benchmark, was trading 1.26 per cent lower at USD 64.42 per barrel in futures trade.
On the domestic equity market front, Sensex dropped 417.68 points to 81,120.02 in early trade, while the Nifty declined 111.1 points to 24,937.55.
Foreign institutional investors offloaded equities worth Rs 4,113.38 crore on Friday, according to exchange data.
India's foreign exchange reserves jumped by USD 14.167 billion to USD 701.36 billion during the week ended January 16, the Reserve Bank said on Friday.
The overall reserves had increased by USD 392 million to USD 687.193 billion in the preceding week.
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Smriti Mandhana named BBC Indian Sportswoman of the Year for 2025
New Delhi (PTI): Star batter Smriti Mandhana, who played a pivotal role in India's historic 2025 Women's World Cup triumph, was named the BBC Indian Sportswoman of the Year for 2025 at a glittering function here on Monday.
Chess prodigy Divya Deshmukh won the Emerging Player of the Year award, for her historic FIDE Women's World Cup triumph at just 20.
Preethi Pal was named the Para-Sportswoman of the Year, for winning two bronze medals at the 2024 Paris Paralympics in track and field, while Anjali Bhagwat was honoured with the Lifetime Achievement Award, recognising her pioneering career as India's first woman shooter to reach an Olympic final and her trailblazing success on the world stage.
Mandhana, who is currently touring Australia with the Indian team for multi-format bilateral assignments, said in a video message: "Thank you BBC for giving me the awardfor Best Sportswoman of the Year. 2025 was a special year for women's cricket, especiallytowards the end we had a World Cup and I'm happy I could contribute and help India win matches.".
At 29, the left-handed batter is already among the game's greats, with the second-highest number of centuries in women's One Day Internationals and ranking third in total runsscored among current players worldwide.
Hailing from Sangli city in Maharashtra, the affable Mandhana was inspired by her father and brother, both of whom played cricket at the district level.
In September last year, she made a 50-ball hundred against Australia – the fastest 50 over international ton (men and women) by an Indian in the format, breaking Virat Kohli's record.
The award winners were decided by a distinguished grand jury comprising Leander Paes, Deepa Malik, and Anju Bobby George.
Praising the athletes' achievements CEO of BBC News, Jonathan Munro said: "Congratulations to this year's winners who showcase the very best in sporting excellence. The BBC World Service is committed to bringing such stories of human endeavour and outstanding success to audiences across India and around the world.".
Additionally, the ceremony also celebrated a wide spectrum of talent and impact, recognizing star performers and changemakers for redefining the landscape of Indian sport.
BBC Star Performers of the Year 202.
• Indian Women's Cricket Team: for their historic World Cup victory.
• Ekta Bhyan, Deepthi Jeevanji and Preethi Pal: for their trailblazing performances at the World Para Athletics Championship.
• Indian Women's Cricket Team for the Blind: for their inspiring World Cup victory.
• Indian Women's Kabaddi Team: for their smashing victory in World Cup.
.
BBC Changemakers of the Year 202.
• Indian Women's Ice Hockey Team: for breaking barriers in a non-traditional sport.
• Rajbir Kaur: Indian field hockey player and former captain of the women’s national team.
• Savita Punia: Indian field hockey player and current member of the national team.
• Paani Devi: recognised for her impactful contribution to grassroots sport.
