The Rupee is having a rough Friday morning, and it’s basically a tug-of-war between the RBI and global reality. As of Friday, January 9, 2026, the local unit slipped to 89.97 against the dollar in early trade—just a hair’s breadth away from that psychological 90 mark.
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The thing is, the RBI is working overtime. They’ve been selling dollars like crazy to keep us from crashing past 90.00, but with foreign investors (FIIs) dumping ₹3,367 crore in stocks just yesterday, the pressure is relentless. Or nothing. Let’s be real, the “Trump Tariff” fear is the ghost haunting the room. Those too.
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The “Currency War” Log: Field Notes
It’s an ongoing situation where every time the Rupee tries to breathe, a new headline about 500% oil tariffs or US trade delays knocks it back down.
The Opening Gap: We actually opened strong at 88.88, but that lasted all of five minutes before the slide to 89.97 began.
The RBI Factor: Analysts are saying the central bank is creating “huge oversold positions” for itself. They’re capping the upside at 89.99, but traders are just waiting for them to step aside so they can buy more dollars.
The “Oil” Squeeze: Brent crude is climbing again, trading at 62.32. Since we import most of our oil, every dollar increase in crude is like a punch to the Rupee’s gut.
Dalal Street Blues: The Sensex is down about 78 points today, following a massive 780-point tanking yesterday. People are nervous, and nervous money usually leaves the country.
Friday Morning Market Snapshot (Jan 9, 2026)
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[Table: Key Financial Indicators]
| Indicator | Current Level | Trend |
| USD/INR | 89.97 | 📉 Falling (-7 paise) |
| Sensex | 84,102 | 📉 Down (78 pts) |
| Nifty 50 | 25,850 | 📉 Down (21 pts) |
| Brent Crude | $62.32 | 📈 Up (+0.53%) |
| Dollar Index | 98.93 | ↔️ Flat |
And Here’s the Kicker…
The thing is, the US Commerce Secretary just dropped a bombshell saying the India-US trade pact is “delayed.” And then you have the US Supreme Court ruling on the legality of Trump’s tariffs coming up. It’s a mess.
Traders are now bracing for the US Jobs data (NFP) tonight. If those numbers are strong, the Dollar will flex even harder, and the RBI might finally have to let the Rupee cross the 90.00 line. It’s an ongoing situation where “stability” is just a polite word for a very expensive defensive battle.
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End…
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