Rupee rises 27 paise to 84.96 against U.S. dollar in early trade

The rupee appreciated 27 money against the US dollar on Tuesday (April 29, 2025), which is supported to reduce strong foreign fund inflows, strong domestic data and global stress.

Forex traders said that both manufacturing and industrial production of India expanded 3%reflecting the health of domestic demand. In addition, a strong rally in domestic equity operated by bounce in foreign funds promoted further sentiments.

However, caution, as any increase in tension between India and Pakistan, can uplift the gains rapidly and put pressure on the rupee, like the previous geo -political episode, he said.

In the Interbank Foreign Exchange, the domestic unit opened at of 85.06 against Greenback, then obtained land and touched .9 84.96, recorded a profit of 27 money from its previous nearly.

In the initial trade, the rupee also touched an early low of ₹ 85.15 against Greenback.

On Monday (April 28), the rupee appreciated 18 money for closing at 18 85.23 against the US dollar.

“On the global front, a more diplomatic tone has emerged. US/ Treasury Secretary Scott Besant indicated that conversations with Asian colleagues including India and Japan are progressing well. Importantly, China has shown signs of de-sizecase by offering significant discounts on tariffs, showing signs of de-signs, indicating the desire to reduce trades,” Emit Pabri said.

Mr. Pabri said that measures such as freeing some goods from tariffs and softening automotive tariffs show a deliberate effort to avoid an all-out business war and to provide a breath chamber to global supply chains.

Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading more than 0.17% at 99.18.

Global Oil Benchmark Brent crude fell 0.68% at $ 65.41 per barrel in futures trade.

In the domestic equity market, 30-cheer BSE Sensx upgraded 404.00 points or 0.50% to 80,622.37, while the Nifty rose 115.40 points or 0.47% to 24,443.90.

According to exchange data, foreign institutional investors (FII) bought a price of 2,474.10 crores on a pure basis on Monday (April 28).

On the domestic macroeconomic front, India’s industrial production growth was approximately flat at 3% in March, however, on a year-on-year basis, it slipped by 5.5%, mainly due to poor performance of manufacturing, mining and power sectors.