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TMI BlogRupee settles 22 paise higher at 85.30 against US dollarX X X X Extracts X X X X X X X X Extracts X X X X ..... Rupee settles 22 paise higher at 85.30 against US dollar X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed a knee jerk reaction in early trade but soon gained the lost ground and ended the day on a positive note, after the US announced 27 per cent reciprocal tariffs on India, saying New Delhi imposes high import duties on American goods. Experts, however, said that India is better-placed than its competitors, who also face increased levies. At the interbank foreign exchange, the rupee opened a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 85.77 and moved between the intraday high of 85.28 and a low of 85.78 against the greenback. The unit ended the session at 85.30 against the dollar, registering a gain of 22 paisa from its previous closing level. On Wednesday, the rupee had settled at 85.52 against the US dollar. Dilip Parmar, Research Analyst, HDFC Securities, said the rupee strengthened after a sluggish start, as concerns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... surrounding a potential recession in the United States, coupled with rising inflation following the impact of tariffs, placed downward pressure on the dollar. "Positive developments in India's manufacturing sector, continued foreign investment inflows, and the lack of intervention from the Reserve Bank of India have provided steady support to the rupee over the past few weeks," he said, adding, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... "the USD/INR exchange rate faces immediate support at 84.90, while the next resistance level stands at 86.40." The US reciprocal tariffs are expected to impact India's exports of certain sectors to the US, experts said, adding that India is better-placed than its competitors, including Bangladesh (37 per cent), China (54 per cent), Vietnam (46 per cent) and Thailand (36 per cent) who face increa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed levies. Meanwhile, according to an official statement on Thursday, the Department of Commerce is carefully examining the implications of the US reciprocal tariffs on India and is engaged with all stakeholders, including domestic industry and exporters to seek their feedback on the issue. The commerce ministry said that it is also studying the opportunities that may arise due to this new de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... velopment in the US trade policy. It further said that discussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral Bilateral Trade Agreement (BTA). The BTA will cover a wide range of issues of mutual interest, including deepening of supply chain integration. Meanwhile, the dollar index, which gauges the greenback's strengt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h against a basket of six currencies, was trading 1.65 per cent lower at 102.09. Brent crude, the global oil benchmark, fell 4.10 per cent to USD 71.88 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex fell 322.08 points, or 0.42 per cent, to settle at 76,295.36, while the Nifty declined 82.25 points, or 0.35 per cent, to close at 23,250.10 points. Foreign i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstitutional investors (FIIs) offloaded equities worth Rs 2,806.00 crore on a net basis on Thursday, according to exchange data. PTI DRR HVA X X X X Extracts X X X X X X X X Extracts X X X X
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