In the interbank foreign exchange, the home currency opened at 85.11 and traded between the intra-day high of 85.07 and low of 85.23 against the greenback
The rupee stuck in a tight-range and finished the day down by 8 paise at 85.23 (provisional) against the U.S. dollar on Tuesday (April 22, 2025), as the support coming from positive domestic equities were neutralized by dollar short-covering by investors.
Forex dealers reported foreign fund inflows underpinned the local unit. But a rebound in crude oil prices hurt investor sentiment.
Additionally, worries lingered about economic headwinds from tariffs and U.S. monetary policy that might curb demand.Credit: Reuters
The rupee settled in a narrow range and for the day was down by 8 paise at 85.23 (provisional) against the American currency on Tuesday (April 22, 2025), as the strength of positive domestic equities was offset by investors’ dollar short-covering.
Foreign fund inflows boosted the domestic unit, forex traders said. But a rebound in crude oil prices subdued investor sentiment.
In addition, economic headwinds from tariffs and U.S. monetary policy were a cause for concern and were feared to curb demand.
The local unit opened at the interbank foreign exchange at 85.11 and fluctuated between the intra-day high of 85.07 and low of 85.23 against the dollar.
The unit closed the session at 85.23 (provisional), down by 8 paise from its last closing level on Tuesday (April 22, 2025), after having seen a gaining run for five consecutive sessions.
On Monday (April 21, 2025), the rupee gained 23 paise to close at 85.15 against the U.S. dollar.
