Indian Rupee Jumps to Highest in 2025

The Indian rupee appreciated by 0.5% to clock at 84.78 per dollar today, April 30, reaching its highest this year. The rally can be attributed to fresh foreign investments in Indian equities, heightened dollar sales, and a wave of short covering in the currency market.

Traders highlighted a surge in dollar selling by exporters who booked profits.

The breach of a key technical resistance around the 200-day moving average also triggered stop-loss orders, adding to the rupee’s upward momentum.

“Several banks had to unwind their long dollar positions. The 84.70–84.75 range will now be crucial support for the USD/INR pair,” a currency trader at a brokerage told Reuters.

Investors also remain optimistic about a potential trade deal between India and the United States, which has in turn appreciated the value of the domestic currency. US President Donald Trump said on Tuesday that talks with India on tariffs were “coming along great” and expressed confidence that a deal was within reach.

However, traders also cautioned about the potential risks. Heightened geopolitical tensions, especially along the India-Pakistan border following the militant attack in Kashmir’s Pahalgam could reverse investor sentiments.

Indian Rupee Jumps to Highest in 2025