Rupee trades almost flat with 1 paisa lower at 87.22 against U.S. dollar
The Hindu
Rupee trades flat at 87.22 against dollar amid volatile sentiment, influenced by trade tariff uncertainties and market cues.
The rupee turned almost flat and traded with a marginal loss of 1 paisa at 87.22 against the U.S. dollar in early trade on Wednesday (March 12, 2025) amid volatile sentiment due to uncertainties over trade tariff.
According to forex analysts, a strengthening American currency index and a recovery in crude oil prices also added pressure on the local unit, which was already weighed down due to selling in domestic equity and the continuous outflow of foreign capital.
They said, market participants were also trading cautiously awaiting cues from macroeconomic data to be released in India and the U.S. later in the day.
At the interbank foreign exchange, the rupee opened at 87.24, tumbled to 87.32 and then gained to 87.22 against the greenback in early deals, trading 1 paisa lower from its previous closing level.
The rupee ended 10 paise higher at 87.21 against the dollar on Tuesday (March 11, 2025), a day after losing 36 paise.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.07% at 103.55.
Brent crude, the global oil benchmark, traded 0.66% higher at U.S. 70.02 per barrel in futures trade.
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