Rupee rises 25 paise to close at 85.49 against U.S. dollar

On March 27, 2025), the rupee was reduced by five money at 85.74 against the US dollar. File | Photo Credit: Hindu

The rupee appreciated 25 money at 85.49 (provisional) against the US $ on Friday (March 28, 2025), which is the best monthly gain in more than six years supported by resurrection of foreign fund inflow. In March 2025, the local unit appreciated a maximum of 2.17%since November 2018, when the local unit recorded a profit of more than 5%.

In the current financial year, the rupee has reduced more than 2%. On April 2, 2024, it was quoted at 83.42 against the US dollar. Forex dealers said that the domestic unit has observed significant appreciation supported by strong foreign funds in the capital market. Foreign investors have used Crore 32,000 crores in the last six consecutive trading sessions.

However, a sharp reverse for the local unit was banned by weak domestic markets and growing US dollars. In addition, investors were also struggling with the possible economic impact of growing global trade concerns. In the interbank foreign currency, the rupee opened at 85.64, then touched a low of 85.40 against Intrade high and 85.70 against Greenback.

The unit finished the session at 85.49 (provisional) against the dollar, registering a profit of 25 paise from its previous closing level. On Thursday (March 27, 2025), the rupee was reduced by five money at 85.74 against the US dollar.

“We hope that the rupee will trade with a positive bias on the income by foreign investors. However, the demand of the month’s demand and crude oil prices from importers and oil marketing companies (OMCs) could rapidly rapidly,” said Anuj Chaudhary, the research analyst of Mirre Esset.

Mr. Chaudhary further mentioned that “traders can take signal from the core PCE price index data from the USD-inr spot price, expected to trade within the range of 85.15 to 86.70”. The dollar index, which detects the strength of greenback against a basket of six currencies, was trading 0.09% more at 104.43. Global Oil Benchmark Brent crude, futures trading 0.16% to $ 74.15 per barrel.

In the domestic equity market, the 30-cheer BSE Sensex fell at 191.51 points or 0.25% to 77,414.92, while the Nifty fell by 72.60 points or 0.31% and closed at 23,519.35 points. Foreign Institutional Investors (FII) bought equity worth 11,1111.25 crores on a pure basis on Thursday (March 27, 2025) as per the exchange data.