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Indian rupee appreciates on Monday amid selling of dollar by exporters

21 Apr 2025 Evaluate

Indian rupee appreciated against the US dollar on Monday boosted by a sharp fall in the dollar index and a surge in the domestic equities. Traders took note of private report that finance minister Nirmala Sitharaman said India hopes to ‘positively conclude’ the first part of a trade pact with the United States by this autumn as she started on a trip packed with engagements between the two nations. Furthermore, RBI said that India's forex reserves increased by $1.567 billion to $677.835 billion for the week ended April 11. This is the sixth consecutive week of a rise in the kitty. On the global front, U.S. dollar weakened against other major currencies in the Asian session on Monday amid increasing risk-on mood by the investors, with markets in Hong Kong, Australia and New Zealand shut due to the Easter holiday, following progress in tariff discussions between the Trump administration and other major economies.

Finally, the rupee ended at 85.16 (Provisional), appreciated by 22 paise from its previous close of 85.38 on Thursday. The currency touched a high and low of 85.19 and 85.03 respectively.

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