Rupee rises 23 paise to 84.54 against U.S. dollar in early trade
The Hindu
Rupee gains against dollar as geopolitical tensions rise, while forex traders monitor foreign fund inflows and dollar weakness.
The Rupee gained 23 paise to 84.54 against the U.S. dollar in early trade on Thursday (May 8, 2025), as the U.S. Federal Reserve kept the federal fund rate steady.
Forex traders said “sustained foreign fund inflows and overall dollar weakness supported the local unit, but geopolitical tensions continue to dent investor sentiments.” At the interbank foreign exchange, the domestic unit opened at 84.61 and fell to an early low of 84.65 and a high of 84.54 against the greenback, registering a gain of 23 paise over its previous close.
On Wednesday (May 8, 2025), the Rupee depreciated 42 paise to close at 84.77 against the U.S. dollar, as heightened cross-border tensions following India's military strikes against terrorist camps in Pakistan and Pakistan-occupied Kashmir (PoK).
Rupee fell to 84.94 on Wednesday (May 7, 2025) but closed at 84.8250 and opened slightly stronger as there was no further news overnight from the border, though tensions continue to build, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.
“The volatility index has surged higher while premiums have been falling owing to surplus liquidity generated from the Ongoing Open Market Operations (OMOs) being pursued by the Reserve Bank of India (RBI),” Mr. Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.04% at 99.65.
Brent oil was steady after falling more than $1 in the previous session as uncertainty over trade talks between the U.S. and China, the world's two largest oil consumers, weighed on investors' sentiments. Brent crude, the global oil benchmark, rose 0.70% to $61.65 per barrel in futures trade.
U.S. President Donald Trump to announce Federal Reserve chair nominee on January 30, amidst tensions with current chair Jerome Powell over interest rates.
Critical minerals are pivotal in energy transition, posing challenges for affordability and supply chains, warns CEA in Economic Survey.
The Economic Survey urges fiscal flexibility for the Centre while warning States about deteriorating financial conditions due to rising deficits.
Economic Survey highlights fodder shortages as key challenge for India's livestock and fisheries sectors, impacting growth and production costs.
The 2025-26 Economic Survey argues that prioritizing economic growth over immediate carbon cuts is essential for sustainable climate adaptation.
India's internet user base reaches 958 million, with 57% from rural areas, highlighting rapid digital adoption across the country.
The Economic Survey reveals a decline in agricultural growth to 3.5% in 2025-26, despite steady foodgrain production increases.
Economic Survey 2025-26 warns unconditional cash transfers risk state finances, impacting fiscal sustainability and medium-term growth.
Economic Survey 2025-26 advocates for tax rationalization on debt-assets to enhance investment in corporate bonds and savings.
Restrictions may also be levied on marketing of infant and toddler milk and beverages to tackle rising obesity
Commercial Vehicles major Tata Motors Ltd. (TML) for the third quarter ended December 31, 2025 reported a 48% fall in consolidated net profit to ₹705 crore as compared with ₹1,355 crore in the year ago period due to one-time impacts of Labour Code and de-merger.
India’s energy gap between supply and demand has dropped to nil by November 2025
India's pharma industry shifts to value-driven approaches, focusing on complex generics, innovation, and expanding medical device exports.