In the domestic equity market, the 30-share BSE Sensex rose sharply by 1,204.02 points, or 1.63%, to 75,051.17, while the Nifty went up 385.25 points, or 1.72%, to 22,784.40. File
| Photo Credit: V.V. Krishnan

The rupee rose sharply by 51 paise against the U.S. dollar to 86.17 in early trade on Friday (April 11, 2025) amid a strong opening in the domestic equity markets, a weakening greenback, and decline in oil prices.

The rise in the local unit comes a day after U.S. President Donald Trump suspended the additional 26% tariffs on India till July 9, 2025.

At the interbank foreign exchange, the domestic unit opened at 86.22 against the U.S. dollar, up 46 paise from the previous close, before rising further to 86.17. The rupee had closed at 86.68 against the greenback on Wednesday (April 9, 2025).

Equity, forex, commodity markets were closed on Thursday (April 10, 2025) on account of Shri Mahavir Jayanti.

“Rupee is expected to rise above 86 with dollar index down below its September low of 100.20 with expectations of a further fall to 95 levels. A good uptick has allowed exporters to cover their exports holding and any upside due to risk aversion should be utilised for further covers,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

He added that the domestic unit is likely to trade in the range of 86.00-86.60 during the day.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.81% lower at 100.04.

Mr. Bhansali said the dollar index declined to decades low against Swiss Franc on Friday (April 11, 2025) as waning confidence in the U.S. economy prompted investors to ditch U.S. assets to the benefit of safe havens like franc and yen, euro and gold.

Brent crude, the global oil benchmark, fell 0.27% to $63.16 per barrel in futures trade.

In the domestic equity market, the 30-share BSE Sensex rose sharply by 1,204.02 points, or 1.63%, to 75,051.17, while the Nifty went up 385.25 points, or 1.72%, to 22,784.40.

Foreign institutional investors (FIIs) offloaded equities worth ₹4,358.02 crore on a net basis on Wednesday (April 9, 2025), according to exchange data.