Rupee rises 35 paise to settle at 85.10 against U.S. dollar
The Hindu
Rupee gains against US dollar on positive market trends, RBI dividend, and foreign fund inflows, supported by weak dollar.
Rising for the second straight session, the Rupee jumped 35 paise to close at 85.10 (provisional) against the U.S. dollar on Monday (May 26, 2025), buoyed by a positive trend in domestic equity markets and a weak American currency overseas.
According to forex traders, the inflow of foreign funds and the Reserve Bank of India's (RBI) announcement of giving a record dividend of ₹2.69 lakh crore to the government for FY25 added strength to the local currency even as a slight recovery in crude oil prices capped its gain.
At the interbank foreign exchange market, the Rupee opened at 85.02 and moved between the intra-day high of 84.78 and the lowest level of 85.18 against the U.S. dollar. The unit ended the session at 85.10 (provisional) against the greenback, registering a gain of 35 paise over its previous close.
On Friday (May 23, 2025), the Rupee appreciated 50 paise to close at 85.45 against the US dollar.
Market participants are waiting for further cues since the industrial and manufacturing production data for April and the Q1 GDP growth numbers are scheduled to be released this week.
Anuj Choudhary, rearch analyst at Mirae Asset Sharekhan, said the Rupee gained on positive domestic markets and weak U.S. dollar index. "Improved global risk sentiments and positive global markets may also support the rupee," Mr. Choudhary said, adding that volumes may remain thin as U.S. markets will remain closed on the Memorial Day holiday. "USD-INR spot price is expected to trade in a range of ₹84.70 to ₹85.40." Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.07% at 98.94.
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