Rupee Opens Stronger Against US Dollar

The Indian rupee opened marginally stronger on Thursday, appreciating by 4 paise to trade at 85.90 against the US dollar, according to Bloomberg data. This modest gain comes amid a mixed global currency environment and cautious investor sentiment following overnight volatility in US markets.

The dollar regained ground against major currencies, reversing some of Wednesday’s losses. The Dollar index up 0.15% at 98.53, reflecting renewed strength in the greenback. The Japanese yen weakened to 148.41 per dollar, while the euro slipped 0.2% to $1.1622.

Market participants remain attentive to developments surrounding Federal Reserve Chair Jerome Powell, whose future came under speculation earlier this week. Although US President Donald Trump clarified that no changes are planned, the uncertainty briefly rattled financial markets, impacting stocks, yields, and currency valuations.

Closer to home, an Indian commerce ministry delegation is concluding a four-day negotiation round in Washington on a proposed bilateral trade agreement. The outcome of these talks could influence future capital flows and shape the rupee’s trajectory in the coming months.

Meanwhile, traders are also watching domestic macroeconomic indicators, including inflation data and upcoming earnings by major banks and corporates, which could further impact currency demand and supply dynamics.