File Photo: A roadside currency exchange vendor New Delhi, India, Calculate notes on 10 February 2025. Reuters/Priyashu Singh/File Photo | Photo Credit: Reuters
The rupee was recovered from low levels and closed at 86.03 (provisional) against the US dollar with a standing profit of 75 money as global crude oil prices decreased after the expectations of de-ecstation under the stress of West Asia.
According to Forex traders, a weak greenback and positive emotions in domestic equity markets further promoted the local unit.
Global Oil Benchmark Brent crude fell to 3.19% per barrel in Futures Trade as US President Donald Trump announced that Iran and Israel agreed to a ceasefire.
In the Interbank Forex, the local unit opened at 86.07 against the US dollar and traded in the range of 85.91–86.27 before closing at 86.03 (provisional), which ranged from its previous bandh to 75 money.
The rupee on Monday shut down 23 money at a five -month low of 86.78 against the US dollar.
Mirae Asset Chadkhan’s research analyst Anuj Chaudhary said the rupee gained better global risk emotions on the ceasefire report between Israel and Iran.
In addition, Chaudhary said that a sharp decline in crude oil prices and positive domestic markets favored the rupee, while the dollar index became softened between the ceasefire report.
Moving forward, he said, traders can take hints from American consumer confidence and testimony of Federal Reserve Chairman Jerome Powell. “USD-inr spot price is expected to trade within the range of Rs 85.60-86.40.” Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading 0.48% less at 97.94.
The domestic equity market increased by 158.32 points to settle at 82,055.11, while the Nifty rose 72.45 points to 25,044.35.
According to exchange data, foreign institutional investors (FII) on Monday launched a price of 1,874.38 crores.
Published – June 24, 2025 05:04 pm IST
