The Indian rupee experienced a notable surge on Monday, gaining **21 paise** to reach **90.73** against the US dollar. This recovery follows a volatile period where the local unit had previously settled at **90.94**. Market sentiment was primarily buoyed by a significant shift in global trade policy. The US Supreme Court issued a landmark ruling striking down several broad-based tariffs, labeling them a "transformative expansion" of presidential authority. While the US administration quickly countered by announcing a temporary **10% to 15%** global import surcharge, the overall dollar index fell **0.33%** to **97.47**, easing pressure on emerging market currencies. Energy costs provided additional relief for the Indian economy. Brent crude, the global oil benchmark, dropped **1.09%** to trade at **$70.98** per barrel. This decline is critical for India, as lower oil prices directly reduce the national import bill and help stabilize domestic inflation. Domestic financial indicators also showed robust strength: * India's foreign exchange reserves hit a fresh all-time high of **$725.727 billion** for the week ended February 13, according to the latest RBI data. * Equity markets opened with strong momentum, with the Sensex surging **621.78 points** to **83,436.49** and the Nifty 50 climbing **180.05 points** to **25,751.30**. The influx of capital into domestic equities and the record-high forex cushion have provided the Reserve Bank of India with significant firepower to manage further currency volatility. Despite the rupee's gain, traders remain watchful as global trade uncertainties persist following the new US executive orders on surcharges. The interbank foreign exchange market saw the rupee open at **90.76** before strengthening further, reflecting improved risk appetite among international investors and a temporary retreat in the greenback’s dominance.