The image used for the purpose of representation. , Photo Credit: Reuters
The rupee was included in a narrow range and on Tuesday (April 29, 2025), on the recovery of US $ in US $ and geopolitical tensions between India and Pakistan, settled for the day 2 on 85.25 (provisional) against the US dollar.
However, the fall in positive domestic markets and crude oil prices reduced the negative side for the domestic unit.
Also read Initial trade increases the rupee 27 money to 84.96 against the US dollar.
In the interbank Forex, the domestic unit opened at 85.06 and went between the Intra-Day high of 84.96 and the lower level of 85.40 against Greenback. The unit finished the session at 85.25 (provisional), declining 2 money at its previous closing level.
On Monday, the rupee appreciated the 18 money closed at 85.23 against the US dollar.
“We hope that the rupee will remain under pressure between uncertainty on trade tariffs and the ongoing geopolitical tensions between India and Pakistan.”
Officials said on Tuesday, meanwhile, about 50 public parks and gardens located in weak areas of Kashmir Valley have been closed as a precautionary measure in view of Pahalgam terrorist attacks.
He said that in view of the perception of danger for tourists, Gates has been closed at 48 of 87 public parks and gardens in Kashmir.
He said that security review was a continuous process and more places can be added to the list in the coming days.
In addition, the Union Cabinet will hold a meeting on Wednesday for the first time after the April 22 terror attack in Pahgam, in which 26 people were killed.
Mr. Chaudhary mentioned that positive voices in domestic markets and foreign fund inflows can support the rupee at lower levels and traders can be taken from job opening and labor turnover survey (JOLTS) and CB consumer confidence data from America
ALSO READ: ‘India will be one of the first trade deals. We sign: American Treasury Secretary
“USD-inr spot price is expected to trade within the range of 84.90 to 85.60,” he said.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading more than 0.16% at 99.17.
Global Oil Benchmark Brent crude fell 1.64% to $ 64.78 per barrel in futures trade.
In the domestic equity market, 30-cheer BSE Sensex closed 70.01 points or 0.09% at 80,288.38, while the Nifty rose 7.45 points or 0.03% to 24,335.95.
According to exchange data, foreign institutional investors (FIIs) on Monday bought a price of 2,474.10 crores on a pure basis.
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.
Meanwhile, American Treasury Secretary Scott Besant has said that India is likely to be one of the first countries to finalize a bilateral trade agreement with the US to avoid mutual tariffs by President Donald Trump.
Mr. Besant made this comment on Monday during an interview CNBC The squalk box ‘President Trump’ to discuss the latest development on business talks with other countries.
Published – April 29, 2025 04:44 pm IST
