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Indian Rupee: Gains likely to be capped by mild recovery in dollar overseas
27-Feb-2025 09:08

Gains in the Indian rupee are expected to be capped by mild recovery in US dollar index amid escalating tariff woes. The US Dollar Index (DXY), which tracks the performance of the US Dollar against a basket of six major currencies, is seeing a modest recovery at 106.56 but remains near yearly lows. For the week, US PCE data and GDP data will likely provide insights into the economy's momentum heading into 2025. On Tuesday, INR fell sharply by 51 paise to settle at 87.23 against the US dollar due to month-end dollar demand by importers amid uncertainty over US trade tariffs. Indian markets remain closed today in observance of Mahashivratri yesterday. The benchmark 30-share BSE Sensex moved in a narrow range before ending the session up 147.71 points, or 0.20 percent, at 74,602.12 on Wednesday. The broader NSE Nifty index closed at 22,547.55, down 5.80 points, or 0.03 percent, from its previous close.

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