Tax - Rupee rises 16 paise against US dollar

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Rupee rises 16 paise against US dollar

The domestic currency appreciated by 16 paise against the US dollar, closing at 87.47, influenced by a weaker US dollar, declining crude oil prices, and reduced domestic inflation. Inflation data showed retail inflation at an eight-year low, supporting the currency's strength. However, uncertainties related to trade tariffs and foreign institutional investor outflows limited further gains. The central bank is tasked with maintaining inflation within a specified target range. Equity markets showed positive momentum despite significant foreign investor sell-offs. Market analysts noted that expectations of a US interest rate cut and favorable domestic economic indicators contributed to the currency's appreciation, though geopolitical events and trade tensions remain potential risks.


Categories: TaxLaws, News, TaxTMI
Source: https://www.taxtmi.com/news?id=52445 Aug 13, 2025, 09:45 PM