Rupee closed higher at 86.2650 per Dollar on Friday (24 January 2025), versus its previous close of 86.4675 per Dollar.Powered by Capital Market - Live News

The Indian rupee saw good appreciation today as a recovery from record low extended. INR neared 86.20, up 22 paise on the day. The US dollar index slumped today as markets eyed US labor market developments and also kept focus on the near term interest rate outlook. US President Donald Trump stated yesterday that he demanded that interest rates should be dropped immediately. This took a toll on the US dollar index as it continued to fall from around two year high. Meanwhile, local equity indices ended a volatile session with substantial losses on Friday. This downturn was primarily driven by continued record outflows from foreign institutional investors (FIIs), which put pressure on large-cap stocks. Additionally, mixed Q3 results and uncertain global cues contributed to the market`s weakness. The Nifty settled below the 23,100 level after hitting the day�s high of 23,347.30 in early afternoon trade. Media, realty and oil & gas shares corrected while FMCG and IT stocks advanced.Powered by Capital Market - Live News

The US dollar index slumped today as markets eyed US labor market developments and also kept focus on the near term interest rate outlook. US President Donald Trump stated yesterday that he demanded that interest rates should be dropped immediately. This took a toll on the US dollar index as it continued to fall from around two year high. Meanwhile, the US Labor Department released a report on Thursday showing initial jobless claims saw further upside in the week ended January 18th. The Labor Department said initial jobless claims rose to 223,000, an increase of 6,000 from the previous week`s unrevised level of 217,000. With the increase, jobless claims continued to regain ground after hitting a nearly eleven-month low in the week ended January 4th. The report said the less volatile four-week moving average also crept up to 213,500, an increase of 750 from the previous week`s unrevised average of 212,750. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also climbed by 46,000 to 1.899 million in the week ended January 11th, reaching the highest level since November 2021. Dollar index slumped following this and is currently hovering around five week low at 107.43, down 0.35% on the day.Powered by Capital Market - Live News

The Indian rupee slipped after appreciating in last session. INR fell 9 paise to 86.43. There has been some recovery in the US dollar index as it holds above 108 mark following recent losses. Investors are still trying to assess the impact of Donald Trump presidency on broad trends in global trade and US economy. INR has been hit hard recently on worries over overseas investment flows and sliding forex reserves. India�s foreign exchange reserves have dropped for the sixth straight week, reaching a ten-month low of $625.87 billion as of 10 January, according to data from the Reserve Bank of India (RBI). This marks a decline of $8.72 billion against the previous week, continuing the slump from the all-time high of $704.89 billion recorded in September. Powered by Capital Market - Live News

Rupee closed lower at 86.4675 per Dollar on Thursday (23 January 2025), versus its previous close of 86.4050 per Dollar.Powered by Capital Market - Live News