In the Interbank Foreign Exchange Market, the rupee opened at 87.46 against the US dollar, and touched the Intrade low of 87.48 and touched a high level of 87.33 and settled at 87.36 (provisional). file. , Photo Credit: Reuters
The rupee appreciated 23 money on Monday (August 18, 2025) at 87.36 (provisional) against the US dollar, supported by a strong domestic equity.
Foreign currency traders said that the Indian rupee traded a positive sector on GST reforms, which Prime Minister Narendra Modi recommended in his nation’s address on August 15.
Forex traders said that the market participants are likely to be cautious on the issue of trade tariffs between India and the US.
In the Interbank Foreign Exchange Market, the rupee opened at 87.46 against the US dollar, and an intrade low of 87.48 and touched a high level of 87.33 and settled at 87.36 (provisional), recorded a benefit of 23 pace on his previous close.
On Thursday, the rupee decreased by 12 money at 87.59 against the US dollar.
Foreign currency and equity markets were discontinued on Friday due to Independence Day.
PM Modi said on Sunday that the Center has broadcast the draft of the next generation GST reforms among the states and demanded its cooperation to implement the proposal to Diwali.
He said that improvement in GST will benefit poor and middle class people as well as small and big businesses.
Current GST tax rates of Nil/Zero on required foods, 5 percent on daily use products, 12% on standard goods, 18% on electronics and services and two tax slabs of 28% 5% and 18% on luxury and sin goods will be replaced by a special 40% top bracket for 5-7 demerit goods.
The proposed two-slabs regime, if approved by the GST Council, will remove the current four slabs with 12% and 28% slabs in the Goods and Services Tax (GST) rule.
Meanwhile, Brent crude prices rose 0.70% to $ 66.31 per barrel in futures trade.
Traders said that investors would monitor the comments of Jerome Powell, president of the Federal Reserve at Jackson Hole this week.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, increased 0.14% to 97.98.
On the domestic equity market front, Sensx scored 676.09 points, which was organized at 81,273.75, while the Nifty rose 245.65 points to 24,876.95.
According to exchange data, foreign institutional investors on Thursday launched a price of ₹ 1,926.76 crore.
On the domestic macroeconomic front, S&P on Thursday upgraded India’s sovereign credit rating to ‘BBB’ with a stable approach after 18 years, citing ‘favorable’ monetary policy to check political commitment to strong economic development, political commitment for fiscal consolidation and inflation.
The impact of the US tariff on the Indian economy would be “managed”, S&P said, saying that 50% tariff (if imposed) on American exports will not “drag” the material on growth.
Published – August 18, 2025 04:17 pm IST
