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In early trade on December 18, 2025, the Indian rupee moved in a narrow range against the US dollar, signalling a tentative stabilisation after touching record lows earlier in the week. Market participants remained cautious, particularly after the Reserve Bank of India’s (RBI) recent actions to support the currency steps that have curbed aggressive one-way bets and encouraged importers to hedge near current levels.
Reuters reported the rupee hovering around 90.41 per dollar, holding within a tight band following the RBI’s intervention after the rupee hit a record low near 91.075 earlier in the week. Times of India also noted a modest early uptick, with the rupee opening a few paise stronger, reinforcing the view that the market is attempting to find a near-term floor.
Traders continued to watch global risk sentiment, the US dollar’s broader strength, crude oil trends, and the outlook for cross-border flows factors that are likely to dictate whether the rupee remains range-bound or resumes volatility
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