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Indian Rupee: Seen opening on weak note as dollar surges
29-May-2025 09:20

The Indian rupee is seen opening on a lower note on Thursday tracking strength in dollar overseas. The dollar index climbed above 100 on Thursday, extending gains to a third straight session after a federal court ruled that President Donald Trump overstepped his authority in imposing reciprocal tariffs. Besides, Fed minutes highlighted risks of persistent inflation and weakening job growth, prompting cautious rate stance. The domestic currency opened at Rs 85.56 per dollar and is last seen trading at 85.48. Yesterday, INR pared losses and settled on a flat note at 85.40 against the US dollar in a volatile trade. Indian shares ended modestly lower on Wednesday, extending losses for a second straight session in the wake of fund outflows due to large block deals and increased primary market activity. The benchmark 30-share BSE Sensex dropped 239.31 points, or 0.29 percent, to 81,312.32 while the broader NSE Nifty index ended down 73.75 points, or 0.30 percent, at 24,752.45. Meanwhile, India's industrial production growth slowed to 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors, according to official data released on Wednesday.

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