The rupee appreciated for the third consecutive session and registered positive aspects of 26 paise to shut at 86.55 (provisional) against the U.S. dollar on Tuesday (March, 18, 2025) amid constructive home fairness markets and a weak American forex.
Forex merchants mentioned the U.S. dollar declined on disappointing financial knowledge from the US. Moreover, the power of the Asian currencies additionally supported the rupee. However, a surge in crude oil costs capped the positive aspects.
At the interbank international trade, the rupee witnessed excessive volatility. It opened at 86.71 then touched the intraday excessive of 86.54 and the low of 86.78 against the dollar.
The unit ended the session at 86.55 (provisional) against the dollar, registering a acquire of 26 paise from its earlier closing stage.
On Monday (March 17, 2025), the rupee had appreciated 24 paise to shut at 86.81 against the U.S. dollar. On Thursday (March 13, 2025) , the rupee surged 17 paise to settle at 87.05 against the U.S. dollar.
Forex market was closed on Friday (March 14, 202 on the event of Holi competition.
This is the third straight session of acquire for the rupee, throughout which it has added 67 paise.
“We expect the rupee to trade with a positive bias on positive global equities and weak American currency. However, rising crude oil prices and FII outflows may cap sharp upside. Traders may take cues from industrial production and housing sector data from the U.S.,” mentioned Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.
Investors might stay cautious forward of the Federal Open Market Committee (FOMC) assembly, Choudhary mentioned, including that the USD-INR spot worth is anticipated to commerce in a variety of 86.3 to 86.80.
Meanwhile, the dollar index, which gauges the dollar’s power against a basket of six currencies, was buying and selling 0.04% decrease at 103.32.
Brent crude, the worldwide oil benchmark, rose 1.31% to $72 per barrel in futures commerce.
On the home macroeconomic entrance, India’s commerce deficit fell to a three-and-half-year low however the level of concern was exports contracting sharply, Bhansali mentioned, including that imports too witnessed probably the most important decline in 20 months pushed largely by a fall in oil imports and gold imports.
Additionally, U.S. President Donald Trump’s plan to impose broad reciprocal tariffs and sector-specific commerce restrictions on April 2 might create additional stress on the rupee, merchants mentioned.
In the home fairness market, the 30-share BSE Sensex surged 1,131.31 factors, or 1.53%, to settle at 75,301.26, whereas the Nifty superior 325.55 factors, or 1.45%, to shut at 22,834.30 factors.
Foreign institutional traders (FIIs) offloaded equities value ₹4,488.45 crore on a internet foundation on Monday, in response to trade knowledge.
Published – March 18, 2025 04:31 pm IST
