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Rupee appreciates on Tuesday amid selling of American currency

04 Mar 2025 Evaluate

Indian rupee appreciated against the US dollar on Tuesday backed by dollar selling by banks. Investors overlooked Department for Promotion of Industry and Internal Trade's (DPIIT) latest data showing that foreign direct investment (FDI) in India dipped by 5.6 per cent year-on-year to $10.9 billion in October-December quarter of this fiscal (2024-25), as compared to FDI inflows of $11.55 billion during October-December 2023-24 due to global economic uncertainties. On the global front, U.S. dollar weakened against other major currencies on Tuesday, as traders' confidence was tempered by weak U.S. economic data. 

Finally, the rupee ended at 87.22 (Provisional), appreciated by 10 paise from its previous close of 87.32 on Monday. The currency touched a high and low of 87.40 and 87.22 respectively.

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