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Indian Rupee: Softens against US dollar amid weak bond yields
16-May-2025 09:28
Indian Rupee slipped in volatile trades against the US dollar yesterday, sliding in tune with the bond yields. INR closed at 85.54 per US dollar, down 21 paise on the day despite firm equities. The US dollar index stayed weak, adding to latest string of losses as a drop from one-month highs extended. The US dollar index pulled back near 100 mark this week before rising. INR flipped back even as the key equity indices ended with major gains, extending gains for the second consecutive trading session, aided by easing inflation and hopes of further relief on trade front. According to media reports, the US President Donald Trump has stated India has offered a trade deal with literally no tariffs. All the sectoral indices on the NSE ended in green. The Nifty index hit seven-month high. Meanwhile, the benchmark 10-year yields slipped under 6.30% amid falling crude oil prices.

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