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Pre Session Commentary - Detailed News

Indian Rupee: Extends upside as dollar stays weak; positive cues from equities support
05-May-25   09:30 Hrs IST

The Indian rupee extends upside at the start of the week tracking persistent weakness in dollar overseas coupled with positive cues from equities. At the interbank exchange rate, INR opened at RS 84.45 per dollar and climbed to a high of 84.30 so far during the day, registering a gain of 27 paise over previous close at 84.57. Domestic shares open higher on Monday as the latest U.S. jobs data came in better than expected, easing fears of a potential recession. U.S. stocks rose sharply on Friday and Treasury yields rose, with sentiment boosted by a stronger-than-expected report on the job market and some de-escalation in Sino-U.S. trade tensions. Falling international prices are also supporting the local unit. On Friday, Indian equity indices ended higher after China said it was open for talks with the United States on tariffs, raising hopes of a de-escalation in a bitter trade war between the two largest economies in the world.

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