Rising for the seventh straight session, the Rupee appreciated 31 paise to close at 85.67 (provisional) against the U.S. dollar on Monday (March 24, 2025), wiping off all its losses in 2025, supported by a optimistic pattern in home fairness markets and contemporary international capital inflows.
“Besides, lower global crude price levels and continuing weakness in the greenback also bolstered sentiments. However, lurking risks — ranging from liquidity constraints to reciprocal tariff implementations — continue to pose challenges for the local unit,” merchants mentioned.“
At the interbank foreign exchange, the Rupee opened at 85.93, then touched an intraday high of 85.49 and a low of 86.01 against the greenback. The unit ended the session at 85.67 (provisional), registering a gain of 31 paise from its previous closing level. On Friday (March 21, 2025), the Rupee appreciated 38 paise to close at 85.98 against the U.S. dollar.
This is the seventh straight session of gain for the Rupee, during which it has added 154 paise. The local unit has recovered all its losses for 2025. On December 31, 2024, the Rupee closed at 85.64 against the greenback.
“The Indian Rupee recouped yearly losses as foreign banks and exporters sold the dollars ahead of the financial year-end adjustment, while State-level banks remained aside from buying amid the RBI’s USD/INR swap,” Dilip Parmar, Research Analyst, HDFC Securities, said.
Mr. Parmar further noted that the sentiments turned positive ahead of the U.S. representative visiting India ahead of April 2, reciprocal tariff implementations. Moreover, the foreign funds buying in domestic equities also well supported the Rupee.
“In the near term, the spot USD/INR is having support at 85.20 and resistance at 86.05,” he famous. Meanwhile, the dollar index, which gauges the dollar’s power against a basket of six currencies, was buying and selling 0.09% decrease at 103.99.
Brent crude, the worldwide oil benchmark, rose 0.54% to $72.55 per barrel in futures commerce.
In the home fairness market, the 30-share BSE Sensex surged 1078.87 factors or 1.40% to settle at 77,984.38, whereas the Nifty superior 307.95 factors or 1.32% to close at 23,658.35 factors.
Foreign institutional buyers (FIIs) bought equities price ₹7,470.36 crore on a internet foundation on Friday (March 21, 2025), in accordance to alternate knowledge.
“Meanwhile, the country’s forex reserves increased by $305 million to $654.271 billion during the week ended March 14,” the RBI mentioned on Friday (March 21, 2025.)
In the earlier reporting week, the general reserves rose by $15.267 billion to $653.966 billion and registered the sharpest weekly rise in two years. The spike in international reserves was partly attributed to the $10 billion foreign exchange swap completed by the Reserve Bank of India.
The Indian fairness market has witnessed a moderation in FPIs’ promoting stress with the outflows narrowing to ₹1,794 crore ($194 million) final week, buoyed by easing world issues and rising optimism round a possible de-escalation within the Russia-Ukraine battle.
Published – March 24, 2025 04:48 pm IST
