Rupee Rises 24 Paise to Close at 85.48 Against US Dollar
The Indian rupee appreciated by 24 paise to close at 85.48 (provisional) against the US dollar on Friday, aided by strong foreign institutional investor (FII) inflows and firm domestic equities. However, rising global crude oil prices capped further gains.
Strong FII Inflows Support Rupee
FIIs purchased equities worth ₹12,594.38 crore on Thursday (June 26), according to exchange data, bolstering market confidence and supporting the rupee against the greenback.
Day’s Trading Range
At the interbank foreign exchange, the rupee opened at 85.50, moved in a narrow range of 85.43 to 85.65, and eventually settled at 85.48, 24 paise stronger than its previous close of 85.72 on Thursday.
Market Experts: RBI Activity and Tariff Concerns Loom
“FII inflows and a softer dollar index helped the rupee rise. The RBI is likely managing liquidity around month-end,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors LLP.
He added, “With the Trump tariff deadline of July 9 approaching, uncertainty could push the rupee towards 86 next week.”
Dollar Index and Crude Prices
The dollar index edged up 0.10% to 97.24 after earlier weakness. Meanwhile, Brent crude rose 0.72% to $68.22 per barrel, adding some pressure on the rupee.
Stock Market Performance
The BSE Sensex closed 303.03 points higher at 84,058.90, while the Nifty 50 advanced 88.80 points to 25,637.80, reflecting positive investor sentiment amid global uncertainty.
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