The Nifty jumped at 374.30 points, or 1.69%, 22,535.90 points. File | Photo Credit: VV Krishnan
The rupee remained on a sliding track and reduced 7 money to 85.83 against the US dollar on Tuesday (April 8, 2025), as the increased tariff started with the increased tariff war due to a huge return of foreign funds amid global economic disturbance.
Forex traders said, “A recovery in crude oil prices further pulled the domestic currency down, as it found some cushions due to a weak American currency and strong recovery in domestic equity markets.”
The US administration is facing excessive instability after a new threat to the US administration to apply punitive 50% tariffs against China’s retaliatory 34% import levy on US products in global markets, said, at the same time domestic investors are waiting for the Reserve Bank for India’s interest rate decision.
The RBI Monetary Policy Committee chaired by Governor Sanjay Malhotra on Monday (April 7, 2025) launched its three-day deliberations at major interest rates. The decision is to be declared on Wednesday (April 9, 2025).
In the interbank foreign currency, the rupee opened at 85.89 and strengthened slightly to trade against greenback at 85.83 during the initial deals, lower 7 money compared to its previous closing level.
The rupee fell 32 money at 85.76 against the US dollar on Monday (April 7, 2025) after losing 14 money in the previous session on Friday (April 4, 2025).
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading 0.23% less at 102.73.
Global Oil Benchmark Brent crude showed some recovery, as it increased by 1.34% per barrel to $ 65.07 in futures trade.
Domestic equity markets have recorded 1171.51 points with a record low level to 30-share BSE Sensex, or 1.60%, to 74,309.41, while the Nifty increased by 374.30 points, or 1.69%, increased to 22,535.90.
Both benchmark index crashed over 5% on Monday (April 7, 2025) before the index was reduced by about 3%.
According to exchange data, foreign institutional investors (FII) on Monday (April 7, 2025) launched the price of 9,040.01 crore on a net basis.
Published – April 08, 2025 11:15 AM IST
