The federal government predicted the nation’s GDP would develop 7.4% this fiscal yr, sustaining its place because the world’s fastest-growing main financial system, regardless of punitive US tariffs and geopolitical tensions. File | Photograph credit score: Getty Photographs/iStockphoto
On Thursday (January 8, 2026), the rupee depreciated by 7 paise to settle at $89.94 (provisional) in opposition to the US greenback, weighed down by quite a lot of elements together with rising oil costs, outflows of overseas funds, and a powerful greenback.
Issues over extra U.S. tariffs and weak home inventory market sentiment additional weighed on the native sector, overseas alternate merchants stated.
In interbank overseas alternate, the rupee opened at Rs 89.96 and traded within the vary of Rs 89.73-90.13. Ultimately, the alternate price settled at 89.94 (provisional value), down 7 paise from the earlier closing value.
“If the US will increase tariffs by even 10 foundation factors, India will face an enormous problem for exports as a result of the sentiment will change from a ‘deal beneath negotiation’ to ‘again to sq. one’. RBI shorts out there will preserve dollar-buying sentiment,” stated Anil Kumar Bhansali, head of finance and govt director at Finrex Treasury Advisors LLP.
He stated he anticipated the rupee to be within the vary of Rs 89.80 to Rs 90.30 on Friday (January 9).
In the meantime, the greenback index, which measures the greenback’s energy in opposition to a basket of six currencies, was buying and selling 0.02% increased at 98.70.
Brent crude, the worldwide oil benchmark, was buying and selling 0.85% increased at $60.47 per barrel in futures buying and selling.
Within the home inventory market, the 30-share benchmark index Sensex plunged 780.18 factors to settle at 84,180.9, whereas the Nifty fell 263.90 factors to 25,876.85.
International institutional traders (FIIs) offloaded shares price Rs 1,527.71 crore on Wednesday (January 7), in response to alternate information.
In its newest estimates on Wednesday (January 7), the federal government predicted the nation’s GDP would develop 7.4% this fiscal yr, sustaining its place because the world’s fastest-growing main financial system, regardless of punitive US tariffs and geopolitical tensions.
The primary preliminary estimates launched by the Ministry of Statistics and Program Implementation present that the GDP development price in 2025-26 might be increased than the RBI’s forecast of seven.3% and the federal government’s preliminary forecast of 6.3-6.8%.
