Image used for representation. Photo Credit: Reuters
The rupee crossed its initial profit and decreased for the day at 85.40 against the US dollar on Friday (April 25, 2025), which increased between geo -political stress and a negative trend in domestic markets.
Forex traders said that after a terrorist attack in Pahalgam, Jammu and Kashmir, the market spirit was weighed.
In addition, a silent trend in domestic equities and positive US dollars index further carried forward the spirit of investors.
In the interbank Forex, the domestic unit opened at 85.17 and went between the Intra-Day high of 85.08 and the lower level of 85.65 against Greenback. The unit finished the session at 85.40 (provisional), declining 7 money at its previous closing level.
On Thursday, the rupee shut down 12 money at 85.33 against the US dollar.
“We hope that the domestic markets will trade the rupee to trade with a negative bias between geopolitical tension and weak tone in the domestic markets. However, the continuous FII flow, the overall weakness in the US dollar can prevent a sharp decline in the rupee. The USD-inr spot price is expected to trade within the range of 85 to 85.90.”
On Tuesday, at least 26 persons – most tourists – one of the worst terrorist attacks on civilians in Kashmir over the last several years was killed by terrorists in Besaran Meadows in Pahgam.
In a rigorous message, Prime Minister Narendra Modi said on Thursday that India would identify, track and punish every terrorist and his supporters, who were responsible for the attack in Pahalgam “beyond his imagination”.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading more than 0.24 percent at 99.61.
Global Oil Benchmark Brent crude fell 0.66 percent to $ 66.11 per barrel in futures trade.
In the domestic equity market, the 30-cheer BSE Sensex dropped 588.90 points or 0.74 percent to 79,212.53, while the Nifty dropped from 207.35 points or 0.86 percent to 24,039.35.
According to exchange data, foreign institutional investors (FIIs) on Thursday bought prices worth 8,250.53 crores on a pure basis.
Forex traders said that a possible trade agreement with the US enhances India’s strategic edge.
American Treasury Secretary Scott Besent has said that he hopes that India will attack the first bilateral trade deal to avoid the mutual tariff of President Donald Trump.
The 90-day stagnation on 26 percent ‘mutual’ tariff on Indian exports to the US is set to end on 8 July. However, like other countries, India is currently under 10 percent tariff under the current policy.
Published – April 25, 2025 05:51 pm IST
