Indian rupee edges higher as domestic factors offset gains from US tariff ruling
The rupee rose slightly on Monday after a U.S. court ruling against tariffs. Gains were limited by importer hedging and upcoming forward contract maturities.
The Indian 
IN rupee briefly strengthened on Monday, February 23, 2026, after the U.S. 
US Supreme Court struck down President Donald Trump's emergency tariffs, though most of those gains were subsequently erased. The reversal in the currency's performance was driven by a combination of importer hedging demand and a significant wall of non-deliverable forward (NDF) market maturities. These factors, alongside the Reserve Bank of India's reliance on NDF operations, continue to weigh on the currency and affect near-term rupee stability and FX market pressures.
IN rupee briefly strengthened on Monday, February 23, 2026, after the U.S. US Supreme Court struck down President Donald Trump's emergency tariffs, though most of those gains were subsequently erased. The reversal in the currency's performance was driven by a combination of importer hedging demand and a significant wall of non-deliverable forward (NDF) market maturities. These factors, alongside the Reserve Bank of India's reliance on NDF operations, continue to weigh on the currency and affect near-term rupee stability and FX market pressures.
