Rupee Surges 51 Paise to 86.17 vs USD on Trump Tariff Pause, Weaker Dollar
Mumbai, April 11 – The Indian rupee made a sharp recovery on Friday, appreciating by 51 paise to 86.17 against the US dollar in early trade. The surge was supported by a combination of factors, including a bullish equity market, falling global crude prices, and a weaker US dollar index.
At the interbank foreign exchange, the rupee opened at 86.22, a 46 paise jump from its previous close of 86.68 on Wednesday. It further strengthened to 86.17, its highest level in recent sessions. Markets were shut on Thursday for Mahavir Jayanti.
The upward move follows US President Donald Trump’s announcement suspending an additional 26% tariff on Indian goods until July 9, reducing near-term trade tensions between the two countries and bolstering confidence in the rupee.
Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP, said the rupee could remain firm and even test below the 86 mark during the day.
“The dollar index has slipped below its September low of 100.20, and may decline further to 95. This creates a favorable outlook for the rupee,” he said.
Bhansali added that exporters are using the uptick to hedge, and any bounce in USD-INR due to global risk factors should be used for further cover. He expects the rupee to trade in a tight band of 86.00–86.60 for the day.
Also Read: Asian Markets Reel Under US-China Tariff Heat; Japan’s Nikkei Crashes Over 5%
The US dollar index, which tracks the greenback against six major currencies, declined 0.81% to 100.04, its lowest in months. The dollar weakened significantly against safe-haven currencies like the Swiss franc, yen, and euro, reflecting waning investor confidence in the US economy.
Meanwhile, Brent crude prices eased 0.27% to $63.16/barrel, offering additional support to India’s trade balance and thereby strengthening the rupee.
Despite mixed global cues, Indian equities opened strong:
Broader markets followed the trend, with mid-cap and small-cap indices rising over 1%.
However, foreign institutional investors (FIIs) remained cautious, offloading ₹4,358 crore worth of equities on Wednesday, as per exchange data.
Rupee vs dollar, INR USD today, currency market news, MCX gold, Brent crude price, Trump India tariffs, US dollar index, rupee forecast, foreign exchange rate April 2025, Anil Kumar Bhansali
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