India, Feb. 2 -- The Indian rupee appreciated by 37 paise to 91.56 against the US dollar in early Monday trade, supported by softer crude oil prices a day after the Union Budget 2026–27 announcement.
Forex traders said the decline in global oil prices helped the local currency recover from recent pressures. However, while the Budget provided some stability, it fell short of offering strong positive triggers for the rupee.
Market participants also flagged concerns over the government's elevated borrowing programme, which could weigh on investor sentiment. The Centre is expected to borrow around Rs 17.2 lakh crore in the next financial year to finance its fiscal deficit, estimated at 4.3 per cent of GDP.
The rupee's movement will lik...