Rupee closed higher at 87.09 per Dollar on Thursday (13 March 2025), versus its previous close of 87.3225 per Dollar.The market will be shut for trading tomorrow (14 March 2025), on account of holiday for Holi. The market will resume trading on Monday (17 March 2025).Powered by Capital Market - Live News

The Japanese yen is hovering around a five month high against the US dollar tracking a sustained weakness in the American currency amid worries of potential economic fallout amid trade tensions induced by US President Donald Trump`s tariffs. Besides, hawkish BoJ amid elevated wage growth and inflation are keeping the benchmark government bond yields at their highest level since 2008. Many of Japan`s biggest companies have met union demands for substantial wage hikes for a third consecutive year, seeking to help workers cope with inflation and retain staff amid labour shortages. This is expected to drive inflation and has led bond yields to a high of 1.575%, supporting a path of continued gradual hikes from the BOJ. USDJPY pair were seen quoting at 148.22, the pair has last witnessed in October last year. Powered by Capital Market - Live News

The minister of State for finance, Pankaj Chaudhary, in government�s written responses in the Rajya Sabha on Tuesday said that there is no adverse impact of recent deprecation of the INR on the long-term economic stability of the Indian economy. The depreciation of currency is likely to enhance the export competitiveness, which in turn impacts the economy positively. On the other hand, depreciation may raise the prices of imported goods. The overall impact of exchange rate depreciation on domestic prices depends on the extent of the pass-through of international commodity prices to the domestic market. The industries reliant on imported inputs may face cost pressures. However, besides exchange rate movements, exports and imports are determined by several other factors. For instance, global value chain integration necessities imports of intermediate goods for production and exports, and international prices of imported goods etc.Meanwhile, RBI was the net seller of over $36 billion between June and December to support the Indian Rupee, the response showed. He added that the value of the Indian Rupee (INR) is market-determined, with no target or specific level or band. The Reserve Bank of India (RBI) monitors key developments across the globe which may have an impact on USD-INR exchange rate. Among others, it includes monetary policy actions of the major Central Banks, major economic data releases across the globe and their impacts thereof, OPEC+ meeting decisions, tracking, and analysing geo-political events, daily movements in G-10 and EME currencies etc. RBI regulates the foreign exchange market with a view to ensure its orderly functioning and development and intervenes only to curb undue volatility in the INR. Powered by Capital Market - Live News

Dollar index stays near the flat line on Thursday, giving back the spike registered in the previous session amid fears that escalating trade tensions could drive US economy into recession. President Donald Trump warned of additional tariffs on EU goods after the EU and Canada retaliated against existing US trade barriers. Meanwhile, US Consumer Price Index (CPI) for February increased 2.8% on year, slightly below the expected 2.9% and down from 3.0% in January, indicating continued moderation in inflation that also weighed down the greenback. Core CPI, which strips out volatile food and energy prices, dipped from 3.3% in January to 3.1%, reinforcing signs of continued disinflation in the U.S. economy. Currently, the US Dollar Index (DXY), which measures the value of the US Dollar (USD) against its six major peers, remains steady after registering gains in the previous session, trading around 103.26. Among basket currencies, EURUSD and GBPUSD are quoting marginally lower at $1.0880 and $1.2953 respectively. Investors are all eyes on the Fed that is set to announce its policy decision next week. Powered by Capital Market - Live News

Rupee closed lower at 87.3225 per Dollar on Wednesday (12 March 2025), versus its previous close of 87.3000 per Dollar.Powered by Capital Market - Live News