Picture used only for representation purpose. , Photo Credit: Reuters
The rupee increased 27 money to settle at 87 (provisional) against the US dollar on Thursday (March 13, 2025) and reduced crude oil prices after strong macroeconomic data.
In addition, the recent weakness in the US Dollar Index also supported the local currency, the foreign exchange dealers said.
However, the loss in domestic equities and the non -stop foreign capital outflow reduced the rapid profit, he said.
In the Interbank Foreign Exchange, the rupee opened at 87.13 and hit the Intrade High of 86.94 against Greenback. The unit touched 22 money more from its previous closing level before finishing the session at 87 (provisional) at 87.15.
In the last session on Wednesday, the rupee settled 1 Paisa lower at 87.22 against the US dollar.
Research analyst Anuj Chaudhary, Mirae Asset Stachkhan, said the rupee recovered the upbeat macroeconomic data and a soft US dollar. However, weak domestic markets reduced sharp gains.
Chaudhary further said that weak domestic market, ongoing trade tariff issues and FII outflows can be a sharp opposite.
“Traders can take hints from the US from the claims of PPI and weekly unemployed claims. The USD-inr spot price is expected to trade within the range of ₹ 86.80 to .2 87.25.”
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading more than 0.12% at 103.70.
Global Oil Benchmark Brent crude does 0.37% less trading at $ 70.69 per barrel in futures trade.
The domestic equity market, the 30-cheer BSE Sensex ended at 200.85 points, or 0.27% lower at 73,828.91 and a comprehensive Nifty fell 73.30 points, or 0.33%, down to 22,397.20 points.
According to exchange data, foreign institutional investors (FII) on Wednesday launched a price of Rs 1,627.61 crore on a pure basis.
The latest government data released on Wednesday included India’s Consumer Price Index (CPI)-Based retail inflation in February, slipping at a seven-month low of 3.61% to a seven-month low of vegetables, eggs and other protein-rich goods, was made a place for another cut in interest rate for RBI next month.
Another set of data released by the National Statistics Office (NSO) has shown that a measure of the performance of the industry, the increase in the index of industry production (IIP), intensified by 5% in January 2025, operated by a reversal in manufacturing activity.
On the global front, President Donald Trump has challenged American colleagues to 25% by raising tariffs on all steel and aluminum imports as he vowed to withdraw “theft” by other countries.
In a quick vengeance, Canada striced a range of American products from textiles and water heaters to beef and borbon.
Meanwhile, the European Union (EU) has also stated that it will increase the tariff on American beef, poultry, borebon and motorcycle, peanut butter and jeans.
Published – March 13, 2025 04:34 pm IST
