Rupee Performance Today: Appreciated 9 paise to 87.28 against US Dollar

In early trade today on 3rd March 2025, the rupee had gained 9 paise to 87.28 against the US dollar. At the interbank foreign exchange, the rupee opened at 87.36 and strengthened its position to 87.28 over the American currency, a gain of 9 paise from its previous closing. Earlier, the rupee had dropped 19 paise to settle at 87.37 per dollar on Friday.

Factors Influencing Rupee

• US Dollar Index: The rupee started higher as the US currency index fell from a relatively high level. The dollar index was 0.34% lower at 107.19.
• Domestic Equity Markets: Domestic equity markets bounced back somewhat supported by resilient macroeconomic data. The BSE Sensex was up 167.25 points at 73,365.35, while the Nifty gained 69.65 points at 22,194.35.
• US Tariff Volatility: The continued volatility of US tariffs had pushed up crude oil prices and limited a sharp gain in the US dollar. Brent crude, the international oil benchmark, increased 0.59 per cent to $73.24 per barrel in futures trading.
• RBI Move: The Reserve Bank announced a $10 billion US dollar-rupee swap to inject long-term liquidity, which garnered strong demand.
• FII Outflows: Net sold equity worth ₹11,639.02 crore in capital market.
• Macroeconomic Data: The withdrawal of foreign capital, according to the forex traders, is likely to stop as the latest government data released on Friday showed that the country's economy expanded by 6.2 percent during the October-December quarter, recovering sequentially from seven-quarter lows.

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