The Indian rupee faced notable volatility in recent sessions, settling at **90.95** against the U.S. dollar. The local unit remains under pressure due to a combination of maturing non-deliverable forwards and consistent selling in domestic equities by foreign investors. The Reserve Bank of India has maintained an active presence in the market. Traders report that the central bank intervened strategically to prevent the currency from sliding past the psychologically critical **91.00** mark. This defense is bolstered by India’s foreign exchange reserves, which recently hit a record high of **$725.73 billion**. External factors continue to weigh on the rupee's performance. The U.S. Dollar Index has shown renewed strength, recently trading near the **97.86** level. Simultaneously, Brent crude oil prices have remained elevated, hovering around **$71.68** per barrel. For a major oil importer like India, these higher energy costs increase the demand for dollars, further straining the local currency. Domestic equity markets have mirrored this caution. The Sensex recently saw a sharp decline of over **1,068 points**, closing at **82,225.92**, while the Nifty fell to **25,424.65**. Foreign Institutional Investors (FIIs) have shown mixed activity, with recent data indicating a net sale of approximately **₹102.5 crore** in the equity segment during specific sessions. Market participants are now closely monitoring several global and domestic triggers. These include ongoing trade negotiations and upcoming GDP data. In the bond market, the 10-year benchmark yield recently closed at **6.67%**, reflecting steady demand ahead of scheduled government auctions. The immediate outlook for the USD/INR pair suggests a consolidated range between **90.75** and **91.20**. While robust forex reserves provide a significant safety net, the interplay between global oil volatility and U.S. monetary policy will likely dictate the rupee's trajectory in the coming weeks. [Expert analysis on the Indian Rupee](https://www.youtube.com/watch?v=akn48UBqyDk) This video provides a deep dive into the macroeconomic factors, including debt and liquidity trends, that are currently shaping the Indian investment landscape and currency movements. http://googleusercontent.com/youtube_content/0