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Rupee appreciates on Thursday amid selling in dollar

03 Apr 2025 Evaluate

Indian rupee appreciated against the U.S. dollar on Thursday as the greenback weakened against its major peers after President Donald Trump unleashed reciprocal tariffs on about 60 countries. Traders took support after Global Trade Research Initiative (GTRI) has said that essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US. On the global front, U.S. dollar weakened against other major currencies in the European session on Thursday after traders increased their bets that the Fed will lower rates in June, as Trump imposed fresh tariffs.

Finally, the rupee ended at 85.30 (Provisional), appreciated by 22 paise from its previous close of 85.52 on Wednesday. The currency touched a high and low of 85.78 and 85.28 respectively.

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