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Rupee appreciates against dollar on Wednesday
May-28-2025

Indian rupee appreciated against the US dollar on Wednesday despite negative trend in domestic equities. Traders took support as Finance Ministry in its monthly economic review report has said that a successful US-India bilateral trade agreement could flip current headwinds into tailwinds, opening up new market access and energizing exports. India seeks full exemption from reciprocal tariffs before the July 8 deadline. Investors ignored the government’s data stating that foreign direct investment (FDI) equity inflow in India fell 24.5 per cent year-on-year (Y-o-Y) to $9.34 billion in the January-March quarter of 2024-25 but grew 13 per cent at $50 billion during the entire FY25.  On the global front, U.S. dollar strengthened against other major currencies in the Asian session on Wednesday, as traders awaited the minutes from May's FOMC meeting due later in the day.

Finally, the rupee ended at 85.39 (Provisional), appreciated by 01 paisa from its previous close of 85.40 on Tuesday. The currency touched a high and low of 85.72 and 85.33 respectively.

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