Mumbai: The Indian currency appreciated against the U.S. dollar in early trade on Monday (April 21, 2025). As per forex traders, positive trend in domestic equities and foreign fund inflows boosted investors’ sentiments. Also, the dollar index fell to its lowest in three years due to anxiety over Trump tariffs and this has supported the local currency.
At the interbank foreign exchange, the domestic currency opened at 85.15 then rose to 85.05 against the US dollar in early deals, registering a gain of 33 paise over its previous closing level. On Thursday (April 17, 2025), the rupee closed 26 paise higher at 85.38 against the U.S. dollar. The Forex market was closed on Friday (April 18, 2025) on account of Good Friday.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading lower by 0.92% at 98.31.
Foreign institutional investors (FIIs) bought Indian equities worth Rs 4,667.94 crore on a net basis on Thursday (April 17, 2025). Meanwhile, 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. The overall reserves jumped by $10.872 billion to $676.268 billion in the previous reporting week ended April 4.
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