Forex traders stated that Asian currencies, including the rupee, obtained land on the expectation of business deals with American representative file image. , Photo Credit: Reuters
The rupee appreciated 16 money on Friday (July 4, 2025) for closing at 85.39 (provisional) against the US dollar, which kept an eye on a decline in US currency in the foreign market and a decline in weak tone in crude oil prices.
Forex traders said that Asian currencies including Rs, get land on the expectation of trade deals with America
US President Donald Trump announced a trade agreement with Vietnam, and it injected a dose of optimism that perhaps more such agreements could be in the pipeline before the July 9 deadline, according to foreign exchange traders.
In the interbank foreign currency, the domestic unit opened at 85.44 against the US currency and touched the intra-day high of 85.30 and 85.50 during the session.
The local unit eventually 85.39 (provisional), 16 money settled more than its previous closing price. On Thursday (July 3, 2025), the rupee crossed the initial deficit and shut down 7 money at 85.55 against the dollar.
“We hope that the rupee will benefit on a declining US dollars and weak tones in crude oil. However, uncertainty on the business tariff can a hat of sharp gains,” said Anuj Chaudhary, the research analyst of Mirae Asset Sharekhan.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, fell 0.24% to 96.94.
Global Oil Benchmark Brent crude, futures trade from 1.18% to $ 67.99 per barrel. Mr. Chaudhary said that the USD-inr spot price is expected to trade within the range of 85.10 to 85.70.
Meanwhile, in the domestic equity market, Sensx closed 193.42 points or 0.23%at 83,432.89, while the Nifty rose 55.70 points or 0.22%to 25,461.00.
According to exchange data, foreign institutional investors (FII) launched on Thursday (July 3, 2025) and launched on a pure basis and at a price of 1,481.19 crore.
A monthly survey due to positive demand trends and ongoing improvement in sales, due to strong expansion in international sales and employment generation, in the development of the Indian service sector, the development of the Indian service sector touched ten months high levels, a monthly survey said on Thursday (July 3, 2025).
The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, which is run by sharp upturn in new trade orders.
Published – July 04, 2025 04:37 pm IST
