{"id":60890,"date":"2025-04-15T12:28:36","date_gmt":"2025-04-15T12:28:36","guid":{"rendered":"https:\/\/earlypostdaily.com\/?p=60890"},"modified":"2025-04-15T12:33:24","modified_gmt":"2025-04-15T12:33:24","slug":"rupee-strengthens-by-33-paise-against-dollar-amid-market-rally-and-weak-us-currency","status":"publish","type":"post","link":"https:\/\/earlypostdaily.com\/index.php\/2025\/04\/15\/rupee-strengthens-by-33-paise-against-dollar-amid-market-rally-and-weak-us-currency\/","title":{"rendered":"Rupee Strengthens by 33 Paise Against Dollar Amid Market Rally and Weak US Currency"},"content":{"rendered":"<p class=\"\" data-start=\"191\" data-end=\"478\">The Indian rupee extended its gains for a second consecutive session, rising by 33 paise to close at <strong data-start=\"292\" data-end=\"315\">85.77 (provisional)<\/strong> against the US dollar on Tuesday. The rally was driven by a strong performance in domestic equity markets and a weaker dollar globally amid ongoing uncertainties.<\/p>\n<p class=\"\" data-start=\"480\" data-end=\"562\">According to forex traders, the rupee was also supported by several key factors:<\/p>\n<ul data-start=\"563\" data-end=\"747\">\n<li class=\"\" data-start=\"563\" data-end=\"603\">\n<p class=\"\" data-start=\"565\" data-end=\"603\">A decline in global crude oil prices<\/p>\n<\/li>\n<li class=\"\" data-start=\"604\" data-end=\"644\">\n<p class=\"\" data-start=\"606\" data-end=\"644\">Favourable inflation data from India<\/p>\n<\/li>\n<li class=\"\" data-start=\"645\" data-end=\"747\">\n<p class=\"\" data-start=\"647\" data-end=\"747\">The US government\u2019s recent decision to suspend an additional 26% tariff on Indian goods until July 9<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"749\" data-end=\"1013\">At the interbank foreign exchange market, the rupee opened at <strong data-start=\"811\" data-end=\"820\">85.85<\/strong> and touched an intraday high of <strong data-start=\"853\" data-end=\"862\">85.59<\/strong> before settling at <strong data-start=\"882\" data-end=\"891\">85.77<\/strong>, marking a <strong data-start=\"903\" data-end=\"920\">33 paise gain<\/strong> from Friday&#8217;s close of <strong data-start=\"944\" data-end=\"953\">86.10<\/strong>. Forex markets were shut on Monday due to Ambedkar Jayanti.<\/p>\n<p class=\"\" data-start=\"1015\" data-end=\"1362\"><strong data-start=\"1015\" data-end=\"1033\">Anuj Choudhary<\/strong>, Research Analyst at Mirae Asset Sharekhan, noted that the rupee\u2019s rise was fueled by a decline in the US dollar index and a surge in local markets. \u201cFalling crude oil prices and positive macroeconomic indicators also supported the currency, though foreign institutional investor (FII) outflows limited further gains,\u201d he added.<\/p>\n<p class=\"\" data-start=\"1364\" data-end=\"1652\">Looking ahead, Choudhary said the rupee may find support from overall weakness in oil prices. However, increased demand for dollars by importers and continued FII selling could limit sharp appreciation. He expects the USD-INR pair to trade in the <strong data-start=\"1611\" data-end=\"1628\">\u20b985.40\u2013\u20b986.00<\/strong> range in the near term.<\/p>\n<p class=\"\" data-start=\"1654\" data-end=\"1844\">The latest data from the government showed that <strong data-start=\"1702\" data-end=\"1731\">wholesale price inflation<\/strong> dropped to a <strong data-start=\"1745\" data-end=\"1780\">six-month low of 2.05% in March<\/strong>, as prices of food items like vegetables and potatoes declined.<\/p>\n<p class=\"\" data-start=\"1846\" data-end=\"2014\">Meanwhile, the <strong data-start=\"1861\" data-end=\"1877\">dollar index<\/strong> \u2014 which tracks the greenback against six major currencies \u2014 was slightly down by <strong data-start=\"1959\" data-end=\"1977\">0.02% at 99.38<\/strong>, a level last seen on March 1, 2022.<\/p>\n<p class=\"\" data-start=\"2016\" data-end=\"2165\">In global energy markets, <strong data-start=\"2042\" data-end=\"2057\">Brent crude<\/strong> slipped by <strong data-start=\"2069\" data-end=\"2102\">0.11% to USD 64.81 per barrel<\/strong>, marking a four-year low \u2014 a level last touched in April 2021.<\/p>\n<p class=\"\" data-start=\"2167\" data-end=\"2233\">On the domestic front, Indian equities witnessed a strong rally:<\/p>\n<ul data-start=\"2234\" data-end=\"2391\">\n<li class=\"\" data-start=\"2234\" data-end=\"2317\">\n<p class=\"\" data-start=\"2236\" data-end=\"2317\">The <strong data-start=\"2240\" data-end=\"2254\">BSE Sensex<\/strong> surged <strong data-start=\"2262\" data-end=\"2289\">1,577.63 points (2.10%)<\/strong> to close at <strong data-start=\"2302\" data-end=\"2315\">76,734.89<\/strong><\/p>\n<\/li>\n<li class=\"\" data-start=\"2318\" data-end=\"2391\">\n<p class=\"\" data-start=\"2320\" data-end=\"2391\">The <strong data-start=\"2324\" data-end=\"2337\">NSE Nifty<\/strong> jumped <strong data-start=\"2345\" data-end=\"2367\">500 points (2.19%)<\/strong> to end at <strong data-start=\"2378\" data-end=\"2391\">23,328.55<\/strong><\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"2393\" data-end=\"2534\">Despite the upbeat mood, <strong data-start=\"2418\" data-end=\"2447\">FIIs remained net sellers<\/strong>, pulling out <strong data-start=\"2461\" data-end=\"2480\">\u20b92,519.03 crore<\/strong> from Indian equities on Friday, as per exchange data.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian rupee extended its gains for a second consecutive session, rising by 33 paise to close at 85.77 (provisional) against the US dollar on Tuesday.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":60894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-60890","post","has-post-thumbnail","category-national"],"_links":{"self":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts\/60890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/comments?post=60890"}],"version-history":[{"count":1,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts\/60890\/revisions"}],"predecessor-version":[{"id":60892,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts\/60890\/revisions\/60892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/media\/60894"}],"wp:attachment":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/media?parent=60890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/categories?post=60890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/tags?post=60890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}