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Rupee rises 22 paise to close at 85.36 against US dollar
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....upee rises 22 paise to close at 85.36 against US dollar<BR>PTI News<BR>Dated:- 9-5-2025<BR>PTI<BR>Mumbai, May 9 (PTI) The rupee pared its initial losses and settled for the day higher by 22 paise at 85.36 against the US dollar on Friday, as likely intervention by the Reserve Bank of India helped contain excess depreciation of the rupee. Forex traders said the rupee opened on a weak note due to t....
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....he armed conflict between India and Pakistan, however, RBI intervened to prevent major weakness. At the interbank foreign exchange, the domestic unit opened at 85.88 and moved between the intra-day high of 85.32 and the low of 85.88 against the greenback. The unit ended the session at 85.36, registering a gain of 22 paise over its previous closing level. On Thursday, the rupee saw its steepest....
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.... single-day fall in more than two-and-a-half years and settled 81 paise lower at 85.58 against the US dollar on Thursday. "Indian rupee opened weak on Friday amid flaring up of geopolitical tensions across the border. Weak domestic markets and a rise in crude oil prices also weighed on the rupee. "However, the domestic currency recovered in the latter half of the day on reports of selling of d....
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....ollars by the Reserve Bank of India as well as a correction in the US dollar index," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan. On the intervening night of Wednesday and Thursday, India neutralised the Pakistan military's attempt to hit military stations in Jammu, Pathankot, Udhampur and some other locations with missiles and drones. Pakistan's armed forces launched mul....
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....tiple attacks using drones and other munitions along the entire western border on the intervening night of May 8-9, which were "effectively repulsed", the Indian Army said on Friday. Pakistani troops also resorted to "numerous ceasefire violations" along the Line of Control in Jammu and Kashmir, the Indian Army said in an early morning post on X. Meanwhile, the dollar index, which gauges the g....
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....reenback's strength against a basket of six currencies, was trading lower by 0.26 per cent at 100.38. Brent crude, the global oil benchmark, rose 1.80 per cent to USD 63.97 per barrel in futures trade. "We expect the rupee to trade with a negative bias as the geopolitical tensions between India and Pakistan may continue to weigh on the domestic unit. Rising crude oil prices and risk aversion i....
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....n the domestic markets may further pressurise the rupee. "However, FII inflows may support the rupee at lower levels. Any de-escalation of tensions over the weekend may also support the rupee at lower levels," Choudhary added. In the domestic equity market, the 30-share BSE Sensex declined 880.34 points, or 1.10 per cent, to close at 79,454.47, while the Nifty fell 265.80 points or 1.10 per ce....
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....nt to settle at 24,008.00. Foreign institutional investors (FIIs) turned sellers and offloaded equities worth Rs 3,798.71 crore on a net basis on Friday, according to exchange data. Dilip Parmar, Senior Research Analyst, HDFC Securities, said the local currency strengthened as traders seem to have adjusted their holdings to navigate potential uncertainties. "Technically, the USD-INR spot rat....
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....e faces a significant resistance barrier in the 86.25-86.45 range. This zone is marked by an 'Island reversal' gap, suggesting a potential challenge for further dollar appreciation. Conversely, the 85 level is anticipated to act as a support for the currency pair in the short term," Parmar said. PTI DRR HVA<BR> News - Press release - PIB....