 against the US dollar on Friday, aided by strong foreign institutional investor){kind=link}
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.
Get Latest News Live on MTIMES along with Breaking News and Top Headlines, Political News and around The World.
You May Like
Trending Searches Today |
Honeymoon Turns Tragic: Wife Sonam Arrested for Plotting Husband Murder, Meghalaya
11 Years of Modi Government: JP Nadda Highlights Key Milestones — Economic Rise, Social Reforms
“India Struck Pakistan Hard and Smart”: Tharoor Praises Operation Sindoor in the US
Tesla Stock Sees Massive Slump, Market Cap Drops by Nearly $150 Billion
A Tribute to Raj Kapoor: The Eternal Showman of Indian Cinema
NEET-PG 2025 to Be Held on August 3: Supreme Court Allows NBE Extension, Denies Further Delay
- POWER OF SEED MIX: Our Seeds Mix is mildly roasted to keep the oils and antioxidants intact so that it can fulfill your …
- DIETARY SNACK: Incorporating this mix into a well-balanced diet controls blood sugar, strengthens muscles, improves dige…
- BENEFITS: A mix of 5 superfood seeds; Pumpkin seeds, Sunflower seeds, Watermelon seeds, Flax Seeds & Chia Seeds. This se…
- Raspberry Jam Cookies – Our classic cookie recipe is now topped with our inhouse raspberry jam made with fresh raspberri…
- 100% Sustainable: – Made with all locally sourced, environmentally gentle and sustainable ingredients that are good for …
- What’s included in COMBO: Raspberry Jam 200gms Jar and Beetroot & Dark Chocolate 200gms Jar