Rupee rises 1 paisa to settle at 85.53 against U.S. dollar
The Hindu
Rupee's gain hindered by Brent crude prices, trade deficit, and equity market decline, settling at 85.53 against the dollar.
Rupee rose 1 paisa to settle at 85.53 (provisional) against the greenback on Friday (May 16, 2025) on the back of strong FII inflows and a marginal decline in the dollar index.
Rupee's gain was curtailed due to higher Brent crude prices, negative domestic equity markets, and the government data that showed the country' trade deficit widening in April, according to forex traders.
At the interbank foreign exchange, the local unit opened strong at 85.28 and traded in the range of 85.28 to 85.70. It eventually settled at 85.53 (provisional), up 1 paisa from its previous close.
On Thursday, the rupee depreciated 22 paise to close at 85.54 against the greenback.
"Though the Asian currencies were all up, and so were the European currencies, the rupee could not make much headway towards 85.00 level and was getting sold near 85.30 and staying in a range broadly between 85-86 and narrowly between 85.25 and 85.75, which is also the range expected on Monday," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
In the domestic equity market, Sensex declined 200.15 points to settle at 82,330.59, while Nifty fell 42.30 points to 25,019.80.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.12% at 100.75.
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