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Indian Rupee: Upside limited by dollar rebound overseas
26-Mar-2025 09:17

Dollar regaining strength overseas coupled with rising international crude oil prices are contributing to rupee weakness following recent rally to three-month high. Dollar index is edging close to 104 mark. Nevertheless, positive cues from equities are keeping the unit supported. Indian shares are seen opening a tad higher on Wednesday, mirroring firm cues from global markets despite signs of waning U.S. consumer confidence. Benchmark indexes Sensex and Nifty ended a choppy session marginally higher on Tuesday and foreign institutional investors continued their buying streak for the third straight session and bought shares worth Rs 5,371.57 crore on a net basis Tuesday. Yesterday, rupee snapped its seven-session rally and settled with a loss of 11 paise at 85.72 against the US dollar. On Wednesday, INR opened at Rs 85.71 per dollar and is last seen trading at 85.76.

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