The image used only for representative purpose. , Photo Credit: Reuters
After three consecutive days of decline, the rupee made a strong recovery on Friday, received 58 money against the US dollar, and settled at 86.10 from its previous bandh of 86.68.
The domestic currency was mainly supported by a weak dollar index and a significant feeling was promoted by the US decision to stop tariffs for the next 90 days.
VP Research Analyst – Commodity and Currency, LKP Securities, VP Research Analyst – Commodity and Currency, LKP Securities said, “This step is well received by the markets, as it opens the door for further interactions between the two countries, reduces the potential business stress in the near future.”
Additionally, Indian capital markets ralled, reflecting bilateral trade relations and optimism around low risk premium for Indian exports, he said.
The growing trade war between the United States and China, due to the world’s two largest economies, on Friday, on Friday, gold prices reached a high level of ₹ 96,450 on Friday as compared to ₹ 90,200, as investors fled to the cover. Thursday was a holiday due to Mahavir Jayati.
“Gold extended its record-setting rally, hit the height of the latest lifetime, defying the strength of the rupee, as geopolitical tension and tariffs between the US and China moved forward,” said Mr. Trivedi.
Published – 11 April, 2025 10:19 pm IST
