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The Indian rupee dipped below 91 to the dollar on Feb. 20, 2026, amid strong dollar demand and thin liquidity, but rebounded after suspected central bank intervention.
The Indian rupee briefly fell past 91 per dollar on February 20, 2026, before recovering to around 90.95, likely due to suspected intervention by the Reserve Bank of India, which may have sold dollars ahead of market open.
Thin liquidity from a Mumbai holiday amplified offshore pressure, driven by strong dollar demand in non-deliverable forwards, rising oil prices, a stronger U.S. dollar, and geopolitical tensions.
While foreign investors bought Indian assets, analysts question further RBI action amid persistent downward pressure.
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La rupia india cayó por debajo de 91 por dólar el 20 de febrero de 2026, en medio de una fuerte demanda de dólar y una escasa liquidez, pero se recuperó después de una presunta intervención del banco central.