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Indian Rupee: Could add further gains as dollar stays weak
06-Mar-2025 08:43

The Indian rupee could likely add further gains amid persistent weakness in the greenback overseas. The dollar in that measures the greenback against a basket of currencies is quoting at 104.27, its lowest level in 4 months. Yesterday rupee appreciated by 19 paise to close at 87.00 against the US dollar on sharp pullback in domestic equities, a weak American currency and a decline in crude oil prices. As per provisional closing, the barometer index, the S&P BSE Sensex, rallied 740.30 points or 1.01% to 73,730.23. The Nifty 50 index added 254.65 points or 1.15% to 22,337.30. US President Donald Trump's tariff escalation has set off a chain reaction in global markets, sending the dollar into a downward spiral. The US dollar incurred further sharp losses on Wednesday and slumped to its lowest level in nearly four months amid uncertainty over US growth prospects.

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