Rupee rises 22 paise to close at 86.22 against U.S. dollar

FIIs remained nett sellers successful the superior markets connected Thursday (January 23, 2025), arsenic they offloaded shares worthy ₹5,462.52 crore, according to speech data. File Photo: S.R. Raghunathan/The Hindu

The rupee appreciated 22 paise to adjacent astatine 86.22 (provisional) against the U.S. dollar connected Friday (January 24, 2025), arsenic a diminution successful the U.S. dollar scale supported capitalist sentiments.

Forex traders said anemic crude lipid prices besides supported the section unit, portion sustained overseas money outflows weighed connected the section unit.

Traders further noted that the upcoming Union Budget volition play a important relation successful shaping marketplace sentiment and the rupee’s trajectory.

At the interbank overseas exchange, the rupee opened connected a beardown enactment astatine 86.31 against the greenback. During the day, the section portion touched an intraday precocious of 86.16 and a debased of 86.36.

It yet closed astatine 86.22 (provisional), rising 22 paise against the U.S. dollar from erstwhile close.

On Thursday (January 23, 2025), the rupee declined 9 paise to settee astatine 86.44 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s spot against a handbasket of six currencies, was trading down 0.56% to 107.44.

“The Dollar Index has precocious surged, reaching a precocious of 110, fuelled by escalating uncertainty surrounding the ‘Trump factor’. However, this rally successful the Dollar Index is improbable to beryllium sustained arsenic planetary uncertainties subside and Trump-related risks diminish,” CR Forex Advisors - MD Amit Pabari said.

“Moreover, astatine the World Economic Forum successful Davos, Switzerland, U.S. President Donald Trump called for an contiguous involvement complaint chopped by the Federal Reserve, a determination that volition make a antagonistic sentiment for the DXY,” Pabari added.

Meanwhile, Brent crude, the planetary lipid benchmark, roseate 0.47% to $78.66 per tube successful futures trade.

“Brent lipid was trading astatine $78.03 per tube arsenic Mr. Trump asked Saudi to little prices truthful that helium could marque Russia halt the war. He has besides threatened sanctions against Russia if they bash not get retired of the war,” Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said.

In the home equity market, the 30-share BSE Sensex fell 329.92 points, oregon 0.43%, to settee astatine 76,190.46 points, portion the Nifty declined 113.15 points, oregon 0.49%, to 23,092.20 points.

Foreign Institutional Investors (FIIs) remained nett sellers successful the superior markets connected Thursday (January 23, 2025), arsenic they offloaded shares worthy ₹5,462.52 crore, according to speech data.

Published - January 24, 2025 04:41 p.m. IST