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TMI BlogRupee sheds US tariff impact; ends 26 paise higher at 85.38 against US dollarX X X X Extracts X X X X X X X X Extracts X X X X ..... Rupee sheds US tariff impact; ends 26 paise higher at 85.38 against US dollar X X X X Extracts X X X X X X X X Extracts X X X X ..... The unit has pared all its losses since April 2, when US President Donald Trump announced sweeping reciprocal tariffs on multiple countries. On April 2, the rupee was quoted at 85.52 against the US dollar. According to forex traders, a positive trend in domestic equities following a reprieve from the US tariffs boosted overall investor sentiment even though some recovery in crude prices weighe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d down on the Indian currency. At the interbank foreign exchange, the domestic unit opened at 85.48 and moved between the high of 85.31 and the low of 85.62 against the greenback during intraday. The unit ended the session at 85.38 against the dollar, logging a gain of 26 paise from its previous closing level. The rupee closed Wednesday's session with a gain of 16 paise at 85.64 against the do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llar. In the preceding four sessions, the Indian currency has added 130 paise, or over 1.5 per cent, since its April 9 closing mark of 86.68 against the greenback. The Indian currency witnessed one of the most substantial weekly appreciation fueled by an influx of overseas capital and a prevailing appetite for risk, said Dilip Parmar, Research Analyst, HDFC Securities. "Fiscal spheres are re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sponding favorably to developments concerning trade between the United States and China, while the 'China plus one' diversification tactic potentially help India. A redirection of investment from the US-China axis towards Indian markets appears plausible following prior years of asset disposals," Parmar said. In the near-term, spot USDINR has support at 85.20 and resistance at 85.72, he added. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.09 per cent at 99.29. Brent crude, the global oil benchmark, rose 1.21 per cent to USD 66.65 per barrel in futures trade. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee gained on surge in the domestic equities and FII inflows. Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wever, importer buying of dollars and recovery in crude oil prices may cap sharp gains, he said, adding "Traders may take cues from weekly unemployment claims and housing data from the US. USD-INR spot price is expected to trade in a range of 85.20 to 85.70." In the domestic equity market, the 30-share BSE Sensex surged 1,508.91 points or 1.96 per cent to settle at 78,553.20, while the Nifty cli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mbed 414.45 points or 1.77 per cent to 23,851.65.
Foreign institutional investors (FIIs) bought equities worth Rs 4,667.94 crore on a net basis on Thursday, according to exchange data. PTI HVA DRR DRR X X X X Extracts X X X X X X X X Extracts X X X X
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