INR rebounds from record low levels to settle for the week at 87.53/$

The Indian rupee appreciated 12 paise to close at 87.53 (provisional) against the US dollar on Friday, supported by lower crude prices. However, dollar strength and the US' imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. On Wednesday, Trump announced the 25 per cent tariff on India and an additional penalty for New Delhi's purchases from Russia. Indian shares fell notably on Friday to extend losses from the previous session, with tariff worries and continued foreign portfolio outflows keeping investors on edge. The benchmark BSE Sensex fell 585.67 points, or 0.72 percent, to 80,599.91 while the broader NSE Nifty index closed at 24,565.35, down 203 points, or, 0.82 percent, from its previous close. On the NSE, USDINR settled lower by 0.18% at 87.59.

 

Powered by Capital Market - Live News