Rupee Opens Stronger Against The US Dollar
The local tendor had crossed the 84 a dollar mark at open on Friday.
The Indian rupee rose 11 paise against the US dollar at 84.45 a dollar on Monday, erasing a day's loss. T The currency fell seven paise to 84.30 against the US dollar at close on Friday, erasing a day's gains after closing 74 paise stronger against the US dollar on Wednesday at 84.49.
However, the local tender had crossed the 84-a-dollar mark and strengthened 74 paise a dollar to reach a seven-month intraday high at 83.75 on Friday.
Today's trade range as per the founder & CEO of India Forex Asset Management – IFA Global, Abhishek Goenka, is "83.90-84.45 with appreciation bias."
Speaking on the rupee's performance over the week, Amit Pabari, managing director at CR Forex Advisors, said, "The Indian rupee witnessed heightened volatility last week. This was driven by shifting market positions, steady capital inflows, and evolving RBI actions in the FX space."
He added, "Robust equity inflows—totalling ₹2,769.81 crore—reflect continued foreign investor interest in Indian assets, lending fundamental support to the rupee. Meanwhile, the newly issued 10-year government bond, with a 6.33% coupon, aligned with expectations and saw strong demand. With the benchmark 10-year yield stable at 6.36%, this positive response could attract further foreign inflows, reinforcing near-term rupee strength."
Brent Crude declined 2.25% at almost $59 a barrel as of 9 a.m. on Monday. The oil benchmark has been trading in the red amid pressure on trade relations between the US and other countries. "Crude has slumped in 2025 and has returned to near a four-year low hit in April, as US President Donald Trump’s trade war threatened to derail growth, erode investor confidence and undercut energy demand. The dramatic policy pivot by OPEC+ has added momentum to the sustained selloff, which has made oil one of the worst-performing major commodities of 2025," reported Bloomberg.
"Pressure from President Trump on the cartel to hike production and Saudi wanting to punish fellow members Iraq and Kazakhstan for poor compliance could be reasons," stated Abhishek Goenka.
The US Dollar index was down 0.27% at 99.57. "Even as concerns about a US recession ebbed a little after a solid March payroll by lengthening the odds on a Fed Reserve rate cut in June and making it more likely the central bank will learn hawkish at its policy meeting this week," stated Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP.
