Mumbai, Feb 02: The rupee gained 37 paise to 91.56 against the US dollar in early trade on Monday, a day after the Union Budget 2026-27 was presented, largely as crude oil prices retreated from their elevated levels.
Forex traders said for the rupee, the budget offered reassurance, not relief. Moreover, the government’s high borrowing plan is likely to weigh on investor sentiments.
The government is likely to borrow Rs 17.2 lakh crore in the next financial year to fund its fiscal deficit projected at 4.3 per cent of the GDP.
At the interbank foreign exchange market, the rupee opened at 91.95 against the US dollar, then gained some ground to 91.56, registering a gain of 37 paise over its previous close.