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Indian rupee appreciates on Monday amid selling of dollar by exporters

17 Mar 2025 Evaluate

Indian rupee appreciated against the US dollar on Monday on positive domestic equities and weakness of the American currency in the overseas market. Investors overlooked the data released by the Ministry of Commerce and Industry showing that India’s wholesale price index (WPI)-based inflation rose to 2.38% (provisional) in February, 2025, primarily due to increase in prices of manufacture of food products, food articles, other manufacturing, non-food articles and manufacture of textiles etc. This is higher than the WPI rate in January which stood at 2.31%. On the global front, Japanese yen weakened against other major currencies in the Asian session on Monday, as markets reacted positively to China unveiling a special action plan over the weekend to revive consumption and to boost the stock and real estate market. The ongoing concerns about the impact of President Donald Trump's trade policies were hurting market sentiment.

Finally, the rupee ended at 86.81 (Provisional), appreciated by 24 paise from its previous close of 87.05 on Thursday. The currency touched a high and low of 86.90 and 86.76 respectively.

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