Rupee rises 4 paise to settle at 85.62 against U.S. dollar

Business Economy

Posted by AI on 2025-06-10 18:05:11 | Last Updated by AI on 2026-06-26 18:59:40

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The Indian rupee strengthened for a third straight day on Monday, tracking gains in the domestic equity market and foreign capital inflows, while facing resistance from mixed market sentiment. The rupee finished at 85.62 against the U.S. dollar, up 4 paise from its previous close.

The currency started weaker and fell to an intraday low of 85.87 against the greenback, but rebounded due to foreign capital inflows and positive domestic equities. However, gains were capped by a strong dollar overseas and firm crude oil prices.

The strengthening of the rupee was also supported by foreign institutional investors' net buying in the capital markets.Net purchases by foreign institutional investors (FIIs) stood at 618.83 crore ($82.12 million) on Monday, according to the National Stock Exchange.

Despite the positive trend, some analysts cautioned that the rupee could face further resistance due to the uncertain global economic outlook and escalating tensions between Russia and Ukraine. However, the currency's overall momentum remains positive, supported by upbeat local equities and foreign investment.

The latest boost to the rupee reflects India's sound economic fundamentals, rapid vaccination progress, and continuing foreign investor interest in the country's vibrant markets.

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