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The Indian rupee opened at 89.87 against the U.S. dollar, buoyed by RBI intervention amid weak Asian cues, portfolio outflows, and U.S.-India trade tensions flagged by Donald Trump.
By Anshul January 9, 2026, 9:42:46 AM IST (Published)
The Indian rupee opened at 89.87 against the US dollar on Friday (January 9), strengthening slightly from Thursday’s (January 8's) close of 90.10/$, as expectations of central bank support countered tepid Asian market cues and ongoing portfolio outflows.
Traders said the currency had slipped in the previous session despite fresh intervention by the Reserve Bank of India (RBI). While the rupee climbed to around 89.75 following the RBI’s dollar sales, the rally quickly lost momentum, mirroring a similar outcome after Wednesday’s (January 7's) intervention.
“Importers are hedging aggressively whenever the rupee dips, and portfolio flows have yet to pick up. Trade-deal headlines are not providing much support,” a currency trader said. “It’s no surprise the rupee is struggling to gain traction despite RBI efforts.”
The slightly higher opening on Friday reflected a post-market dip in the dollar/rupee rate toward 89.90, which influenced early trading levels.
Geopolitical developments continue to influence sentiment.
Regional currency markets were broadly weak, with losses extending ahead of a key US jobs report. Economists surveyed by Reuters expect US non-farm payrolls to rise by 60,000, with the unemployment rate holding at 4.5%.
Analysts said the unemployment figure may have a greater impact on market expectations than the payroll number itself. Morgan Stanley economists forecast the rate to remain steady, supporting expectations of a potential Federal Reserve rate cut in January.
-With Reuters inputs
