A man counts Indian currency notes at a roadside currency exchange stall in the old quarters of Delhi, India, February 2, 2026. REUTERS
MUMBAI, Feb 20 (Reuters) – The Indian central bank likely sold dollars before the local spot market open on Friday, four traders told Reuters, an intervention that was possibly aimed at preventing the rupee from falling past the key 91-per-dollar mark.
The rupee initially appeared on course to open weaker around 91.05-91.08 on Friday but recovered slightly and was on track to kick off the day’s trading around 90.95.
Traders pointed out that the strong dollar-buying appetite in the non-deliverable forwards market had weighed on the rupee on Thursday in otherwise thin trade due to a holiday in Mumbai, the primary hub for rupee trading.
Reporting by Jaspreet Kalra, Nimesh Vora; Editing by Janane Venkatraman
