Rupee Gains 33 Paise Against US Dollar Amid Positive Market Trends

The Indian rupee appreciated 33 paise to ₹85.05 against the US dollar in early trade on Monday, supported by a weaker dollar index and strong domestic equities. Weakening Dollar Index: The US dollar has been facing sustained pressure, with the Dollar Index (DXY) dropping over 9% year-to-date. This decline reflects growing expectations that the Federal Reserve may eventually be forced to pivot on interest rates.

: Traders noted that foreign institutional investors (FIIs) bought equities worth ₹4,667.94 crore on a net basis on Thursday, boosting investor sentiment. The BSE Sensex rose by 482.87 points (0.61%) to 79,036.07, while the Nifty advanced 146.85 points (0.62%) to 23,998.50, further supporting the rupee.

Brent crude, the global oil benchmark, fell 1.47% to $66.96 per barrel, reducing India’s import costs and strengthening the rupee.

Experts predict that the USD-INR pair will trade within the ₹85.00–₹85.50 range, with a potential for further appreciation if the rupee decisively breaks below ₹85.00.