According to exchange data, foreign institutional investors bought prices worth ₹ 550.85 crore on August 18, 2025. File | Photo Credit: Reuters
The rupee appreciated 40 money at 86.99 (provisional) against the US dollar on Tuesday (August 19, 2025), supported by GST restructuring and optimism on positive domestic equity markets.
Forex traders said the rupee is expected to trade with a positive bias, as to reduce concerns over additional tariffs on additional tariffs by the US after a meeting between US President Donald Trump and Russian President Vladimir Putin.
In the Interbank Forex Market, the rupee opened at 87.24 against the US dollar, touched the Intrade low of 87.31 and high levels of 86.92, and settled at 86.99 (provisional), recorded a profit of 40 causes on its previous close.
On Monday (August 18, 2025), the rupee appreciated 20 money at 87.39 against the US dollar.
In the Independence Day speech, the Indian rupee reached the highest level in a month on optimism on the GST restructuring by Prime Minister Narendra Modi. The US also promoted market sentiments, lowering concerns on additional tariffs, “Anuj Chaudhary, research analysts, objects and currencies, Mirae Asset Sharekhan said.
Current GST tax rates of Nil/Zero on required foods, 5% 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.
“We hope to trade with a positive bias with a positive bias on domestic market sentiments due to GST rationalization and fading business tariff concerns.
However, increasing demand for dollars by importers can gain fast profit. Traders can get indications from building permits and start data from the housing USD-I-INR spot price, expected to trade within the range of 86.70 to 87.40, Mr. Chaudhary said.
Meanwhile, Global Oil Benchmark Brent crude, Ukraine-Russia was trading at $ 65.91 per barrel in futures trade amid veetal optimism around the Ukraine-Russia conflict.
The dollar index, which detects the strength of greenback against a basket of six currencies, was 0.13% less at 98.04.
On the domestic equity market front, Sensex rose 370.64 points to organize 81,644.39, while the Nifty reached 103.70 points to 24,980.65.
According to exchange data, foreign institutional investors bought equity worth ₹ 550.85 crore on Monday (August 18, 2025).
Published – August 19, 2025 04:58 pm IST
