Rupee rises 33 paise to close at 86.65 against U.S. dollar
The Hindu
Rupee strengthens against the dollar, supported by weakening American currency, amid global economic uncertainties and foreign fund outflows.
The rupee appreciated 33 paise to close at 86.65 (provisional) against the U.S. dollar on Thursday (February 20, 2025), supported by the weakening of the American currency in the overseas market.
Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments.
At the interbank foreign exchange, the rupee opened at 86.88 and touched the high of 86.58 and a low of 86.88 against the greenback during intraday. It ended the session at 86.65 (provisional) against the dollar, logging a gain of 33 paise from previous close.
On Tuesday (February 18, 2025), the rupee depreciated 10 paise to close at 86.98 against U.S. dollar.
The forex market was closed on Wednesday (February 19, 2025) on account of ‘Chatrapati Shivaji Maharaj Jayanti’.
“The Indian rupee gained strength after lingering within a confined range for the past five days. This ascent was propelled by foreign banks dollar selling and the persistent unwinding of long positions by market players,” said Dilip Parmar, Research Analyst, HDFC Securities.
The market dynamics for the rupee are progressively enhancing as the U.S. dollar falters against both major and regional currencies.
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