The Indian rupee ended stronger on Wednesday, gaining 7 paise against the US dollar following the Reserve Bank of India’s decision to maintain the status quo on repo rates.
Closing rate: ₹87.73 per USD
Previous close: ₹87.80
Opening rate: ₹87.72 (according to Bloomberg)
The strengthening came despite growing geopolitical tensions and trade uncertainties, particularly between India and the United States.
Expert Insights
Jateen Trivedi, VP – Research Analyst at LKP Securities, said:
“Ongoing friction between the US and India over trade and energy policies is expected to keep the rupee volatile and under pressure.”
Anil Bhansali, Executive Director at Finrex Treasury Advisors LLP, added:
“With Brent crude falling to a one-month low at $67.99 per barrel and US threats of sanctions on Russian oil buyers, there’s a risk of more tariffs on countries like India and China.”
Key Market Factors
- RBI Repo Rate: Held steady, supporting short-term currency stability
- US-India Trade Tensions: Risk of new tariffs amid Russian oil purchases
- Brent Crude Prices: Slide to $67.99, easing pressure on India’s import bill
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