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Currency News

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(26 May 2025, 17:18)

INR buoyed by positive equities, weak dollar overseas


The Indian rupee rose for the second straight session buoyed by a positive trend in domestic equity markets and a weak American currency overseas. The rupee jumped 35 paise to close at 85.10 (provisional) against the US dollar on Monday. The inflow of foreign funds and the RBI's announcement of giving a record dividend of Rs 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. The benchmark 30-share BSE Sensex rose 455.37 points, or 0.56 percent, to 82,176.45 mirroring firm cues from global markets after U.S. President Donald Trump said he would delay imposing 50 percent tariffs on imports from the EU until July 9, backing of this threat to impose tariffs on goods from the European Union as soon as 1 June. The broader NSE Nifty index also ended up 148 points, or 0.60 percent, at 25,001.15. Moreover, dollar index tumble below 99 mark also supported the counter. 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 US dollar. The unit ended the session at 85.10 (provisional) against the greenback, registering a gain of 35 paise over its previous close.

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