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Commodity News

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(06 Mar 2025, 08:43)

Indian Rupee: Could add further gains as dollar stays weak


The Indian rupee could likely add further gains amid persistent weakness in the greenback overseas. The dollar in that measures the greenback against a basket of currencies is quoting at 104.27, its lowest level in 4 months. Yesterday rupee appreciated by 19 paise to close at 87.00 against the US dollar on sharp pullback in domestic equities, a weak American currency and a decline in crude oil prices. As per provisional closing, the barometer index, the S&P BSE Sensex, rallied 740.30 points or 1.01% to 73,730.23. The Nifty 50 index added 254.65 points or 1.15% to 22,337.30. US President Donald Trump's tariff escalation has set off a chain reaction in global markets, sending the dollar into a downward spiral. The US dollar incurred further sharp losses on Wednesday and slumped to its lowest level in nearly four months amid uncertainty over US growth prospects.

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