According to exchange data, foreign institutional investors bought equity worth 374.74 crores on a pure basis on 18 July 2025. File | Photo Credit: Reuters
On Monday (July 21, 2025), the rupee shut down 14 money against the US dollar on Monday (July 21, 2025) due to a continuous dollar demand from oil importers.
Forex traders stated that after violating critical 86 levels, the rupee continued to decline, which accelerated the trend downwards, tracking a strong dollar index.
In the interbank foreign currency, open at 86.27 against the domestic unit Greenback and touched a low of 86.36 against 86.19 intra-day and 86.36 against Greenback.
At the end of the trading session of Monday (July 21, 2025), the local unit settled at 86.30, 14 money below its previous closing price.
On Friday (July 18, 2025), the rupee reduced 4 money at 86.16 against the US dollar.
Forex traders said that all eyes are now on the result of Indo-US trade talks, especially close to 1 August deadline for possible tariffs on Indian exports. If the discussion fails or delays, it will join the challenges of the rupee, and if a deal reaches, it can offer a very important breath.
He said that the uncertainty around the Indo-US trade deal is likely to keep the participants of the market alert.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, fell 0.22% to 98.26.
Global Oil Benchmark Brent crude fell 0.48% to $ 68.95 per barrel in futures trade.
“Indian rupee has experienced a lot of weakness in recent times and is weakest in Asian currencies,” traders said.
“There is a continuous migration of dollars from primary catalyst importers for this decline and a continuous migration of foreign capital. On the technical front, the Spot USD/INR has immediate resistance at 86.65 and a significant support on 85.80,” Dilip Parmar, HDFC Securities said.
In the domestic equity market, 30-cheer BSE Sensex advanced 442.61 points, or 0.54%, 82,200.34, while the Nifty increased to 122.30 points or 0.49%, 25,090.70.
According to exchange data, foreign institutional investors (FII) bought an equity of 374.74 crore on a pure basis on Friday (July 18, 2025).
Published – July 21, 2025 05:11 pm IST