Market News
Indian rupee stuck in range, missing tech and commodity lift for EM peers - REUTERS
MUMBAI, Feb 26 (Reuters) - The Indian rupee was a tad firmer on Thursday, helped by a broadly softer dollar, though it has remained a laggard among emerging market peers over 2026 as investors favour tech, export and commodity-heavy global markets. The rupee has declined about 1% over the year so far, compared to gains of more than 6% for the Brazilian real 4% for the Malaysian ringgit against the dollar.
On the day, the South Asian currency was modestly stronger at 90.86 per dollar as of 10:30 a.m. IST compared to its close at 90.9475 in the previous session.
The local unit's underperformance against emerging market peers has carried over from last year, when it had to grapple with persistent foreign portfolio inflows, a surge in precious metal imports and trade frictions with the U.S.
While portfolio flows have recovered modestly since the U.S. and India announced a trade deal in early February, investors continue to favour tech heavy markets in North Asia alongside commodity sensitive currencies like those in Latin America.
