Rupee Holds Steady Against Dollar Despite Market Ups and Downs

Rupee Ends Nearly Unchanged

The rupee stayed almost the same against the US dollar on Thursday. It went up by just 1 paisa to end at 85.52.

What Happened in the Market

At the interbank foreign exchange market, the rupee started at 85.43. It stayed between 85.43 and 85.65 before ending at 85.52. The day before, it had closed at 85.53.

Why the Rupee Stayed Steady

Traders said the rupee got some help from global news. The US dollar got weaker because of lower inflation data. Also, there were signs that the US president might take a softer stance on trade.

What Experts Say

“The dollar fell on Thursday. This happened because of signs that the US president may be softer on tariffs. Also, people expect the Federal Reserve to cut rates after seeing lower inflation data,” said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.

Dollar Index Update

The dollar index, which shows how strong the US dollar is against six major currencies, fell by 0.43% to 99.20.

Stocks and Oil Prices

Indian stocks fell a lot, which put pressure on the rupee. The BSE Sensex went down by 823.16 points to 81,691.98. The NSE Nifty dropped by 253.20 points to 24,888.20.

Oil prices went up a little. Brent crude, the global standard, was at $66.81 per barrel, down by 0.09% in futures trade.

Foreign Investments

Foreign investors sold a lot of stocks. They sold stocks worth Rs 3,831.42 crore on Thursday.

Other News

In other news, an Air India flight heading to London with 242 people crashed into a residential area soon after taking off from Ahmedabad airport on Thursday afternoon. Many people were feared dead in this incident.