Currency Market News: Rupee climbs 17 paise to 86.19 against dollar in early trade

The rupee appreciated by 17 paise to 86.19 against the US dollar in early trade on Friday, supported by positive domestic equities and fresh foreign fund inflows.

Forex traders noted that the rupee has been strengthening as foreign portfolio investors (FPIs) turned net buyers for the second time this week, showing increased interest in both equity and debt markets.

At the interbank foreign exchange, the domestic currency opened at 86.26 against the greenback before gaining momentum to reach 86.19, marking a 17-paise increase from its previous close. On Thursday, the rupee remained steady and edged up by 1 paisa to close at 86.36 against the US dollar. According to Amit Pabari, MD of CR Forex Advisors, the Indian currency witnessed notable volatility, influenced by the US Federal Reserve's meeting while finding support from strong foreign institutional investor (FII) inflows.

Also Read: Rupee gains 1 paisa to close at 86.36 against US dollar

Exchange data revealed that FIIs made net equity purchases worth Rs 3,239.14 crore on Thursday. Pabari noted that after weeks of outflows, foreign investors injected over Rs 3,200 crore into Indian equities and a substantial Rs 5,500 crore into debt markets, driven by India’s real yield, which stands at 3.028 percent.

Meanwhile, the US dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.13 percent higher at 103.98. Brent crude, the global oil benchmark, saw a 0.44 percent rise in futures trade, reaching USD 72.32 per barrel.

Pabari further stated that given the current market conditions, the USD-INR pair is likely to fluctuate between 86.00 and 86.80 in the near term, with a potential rebound towards the 86.50-86.60 range amid ongoing global uncertainties.

Also Read:First Trade: Indices snap four-day rally, Sensex down 216 points, Nifty at 23,146

Stock Market Summary: Sensex, Nifty open lower amid weak Asian cues

Indian equities opened lower on Friday, March 21, 2025, mirroring weakness in Asian markets. At the opening bell, the Nifty slipped 0.19 percent or 44.6 points to 23,146.05, while the Sensex declined 0.28 percent or 215.51 points to 76,132.55.

Despite the subdued start, broader markets saw a slight uptick, outperforming the benchmark indices. Sectorally, the IT sector led the declines, shedding over 2 percent, while the consumer durables index also traded lower.

(With Inputs from PTI)