FILE PHOTO: The Indian Rupee brand is seen contained in the Reserve Bank of India (RBI) headquarters in Mumbai, India, December 6, 2024. REUTERS/Francis Mascarenhas/File Photo
| Photo Credit: Reuters
Rupee appreciated 33 paise to 85.05 against the U.S. dollar in early trade on Monday (April 21, 2025), because the dollar index fell to its lowest in three years due to anxiousness over Trump tariffs.
Forex merchants stated a constructive development in home equities and overseas fund inflows boosted buyers’ sentiments.
Traders stated the Indian rupee has gained important floor over the previous few buying and selling classes on encouraging home indicators and altering international tides which have saved the rupee regular, at the same time as uncertainty swirls round main world economies.
At the interbank overseas change, the home unit opened at 85.15 then rose to 85.05 against the buck in early offers, registering a achieve of 33 paise over its earlier closing stage.
On Thursday (April 17, 2025), the rupee closed 26 paise increased at 85.38 against the U.S. dollar.
The Forex market was closed on Friday (April 18, 2025) on account of Good Friday.
Meanwhile, the dollar index, which gauges the buck’s power against a basket of six currencies, was buying and selling decrease by 0.92% at 98.31.
The U.S. dollar has been going through sustained stress, with the Dollar Index (DXY) down over 9% year-to-date. This displays rising expectations that the Federal Reserve could finally be pressured to pivot.
“While Fed Chair Jerome Powell has maintained a cautious stance, signalling no immediate rate cuts, mounting political pressure — especially from President Donald Trump — is pushing for lower rates to support growth,” CR Forex Advisors MD Amit Pabari stated.
Brent crude, the worldwide oil benchmark, fell 1.47% to $66.96 per barrel in futures trade.
“With India offering strong forex reserves, steady inflation, and competitive interest rates, the rupee is increasingly becoming a beneficiary of this global repositioning,” Mr. Pabari stated.
Looking forward, the USDINR pair is anticipated to trade inside the 85.00-85.50 vary. A decisive break beneath 85.00 might open the door for additional sharp appreciation of the rupee, he added.
In the home fairness market, the 30-share BSE Sensex rose by 482.87 factors, or 0.61%, to 79,036.07, whereas the Nifty superior 146.85 factors, or 0.62%, to 23,998.50.
Foreign institutional buyers (FIIs) purchased equities value ₹4,667.94 crore on a internet foundation on Thursday (April 17, 2025), in accordance to change information.
Meanwhile, India’s foreign exchange reserves elevated by $1.567 billion to $677.835 billion for the week ended April 11, the Reserve Bank stated on Friday (April 18, 2025).
This is the sixth consecutive week of an increase in the kitty. The general reserves jumped by $10.872 billion to $676.268 billion in the earlier reporting week ended April 4.
Published – April 21, 2025 11:01 am IST
