Rupee Surges 38ps To 84.58/$
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.20% at 99.44
Rupee Surges 38ps To 84.58/$
Mumbai: The rupee surged 38paise to 84.58 against the US dollar on Wednesday as trade-deal hopes and foreign fund inflows boosted investor sentiments. US President Donald Trump’s statement that tariff talks with India are in a positive direction enthused investors, forex dealers said. However, geopolitical tensions between India and Pakistan and a muted sentiment in domestic equities weighed on investor sentiments.
At the interbank foreign exchange, the domestic unit opened at 85.15 and moved between the intra-day high of 84.47 and the low of 85.15 against the greenback. The unit ended the session at 84.58, registering a gain of 38paise over its previous closing level. On Tuesday, the rupee gained 27paise to settle at 84.96 against the US dollar.
Meanwhile, Trump said negotiations with India over a bilateral trade deal are “coming along great”, and he thinks Washington will “have a deal” with New Delhi. Trump made the remarks on Tuesday while speaking to reporters before departing the White House for a rally in Michigan, marking the first 100 days of his second administration. “India is coming along great. I think we’ll have a deal with India,” said the president.
