Indian rupee notes have been seen in this illustration depiction taken in Mumbai. , Photo Credit: Reuters
The rupee appreciated for the third consecutive season and on Tuesday (March, 18, 2025), a registered advantage of 26 money to close on 86.55 (provisional) on 86.55 (provisional) against the US dollar between positive domestic equity markets and a weak US currency.
Forex traders said the US dollar reduced disappointing economic figures from the US. In addition, the strength of Asian currencies also supported the rupee. However, the increase in crude oil prices reduced the profit.
In the Interbank Forex, the rupee saw high volatility. It opened at 86.71 and then touched a low of 86.54 against the Intrade high and 86.78 against Greenback.
The unit finished the session at 86.55 (provisional) against the dollar, registering a profit of 26 money from its previous closing level.
On Monday (March 17, 2025), the rupee appreciated 24 money at 86.81 against the US dollar. On Thursday (March 13, 2025), the rupee increased 17 money to settle at 87.05 against the US dollar.
The foreign exchange market was closed on Friday (March 14, 202 on the occasion of Holi Festival.
This is the third direct session of profit for the rupee, during which it added 67 money.
“We hope that the rupee will trade with a positive global equity and a positive bias on the weak American currency. However, the increase in crude oil prices and faster the outflow of FIIs. Merchants can get indications from the data of industrial production and housing sector from the US,” Anuj Chaudhary – said the research analyzer in Mirae Asset sharekhan.
Investors may be cautious before the Federal Open Market Committee (FOMC) meeting, Chaudhary said, saying that the USD-inR spot price is expected to be traded within the range of 86.3 to 86.80.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading 0.04% less at 103.32.
Global Oil Benchmark Brent crude, futures in futures trading increased to $ 72 per barrel.
On the domestic macroeconomic front, India’s trade deficit fell at a three-and-a-half-year low, but the concern was rapidly contracted, Bhansali said, saying that imports saw the most significant decline in 20 months, which is inspired by large-scale oil imports and falling gold imports.
Additionally, US President Donald Trump plans to impose widespread mutual tariffs and sector-specific trade restrictions on April 2, which can create more pressure on the rupee, the traders said.
In the domestic equity market, the 30-cheer BSE Sensex increased by 1,131.31 points or 1.53%, settling at 75,301.26, while the Nifty closed 325.55 points, or 1.45%at 22,834.30 points.
According to exchange data, foreign institutional investors (FII) on Monday launched a price of 4,488.45 crores.
Published – March 18, 2025 04:31 pm IST
