Rupee sheds U.S. tariff impact; ends 27 paise higher at 85.37 against U.S. dollar
The Hindu
Rupee strengthens against the dollar, closing at 85.37 on April 17, 2025, due to foreign fund inflows and equity gains.
The rupee strengthened for the fourth consecutive session and closed 27 paise higher at 85.37 (provisional) against the U.S. dollar on Thursday (April 17, 2025), hitting the April 3 closing level, on the back of foreign fund inflows in domestic equities and broad weakness in the greenback.
The unit has pared all its losses since April 2, when U.S. President Donald Trump announced sweeping reciprocal tariffs on multiple countries. On April 2, the rupee was quoted at 85.52 against the U.S. dollar.
According to forex traders, a positive trend in domestic equities following a reprieve from the U.S. tariffs boosted overall investor sentiment even though some recovery in crude prices weighed down on the Indian currency.
At the interbank foreign exchange, the domestic unit opened at 85.48 and moved between the high of 85.31 and the low of 85.62 against the greenback during intraday. The unit ended the session at 85.37 (provisional) against the dollar, logging a gain of 27 paise from its previous closing level.
The rupee closed Wednesday’s (April 16, 2025) session with a gain of 16 paise at 85.64 against the dollar.
In the preceding four sessions, the Indian currency has added 131 paise, or over 1.5%, since its April 9 closing mark of 86.68 against the greenback.
Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee gained on surge in the domestic equities and FII inflows.
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