Rupee hits 2-week high, strengthens 39 paise
The Indian Rupee just climbed to its strongest level in two weeks, closing at 85.7050 against the US Dollar after gaining 39 paise on Thursday.
This boost comes as the US Dollar Index slipped below the 97 mark for the first time since March 2022, and with Brent crude prices dropping below $66 a barrel, India's import costs get some relief.
What a stronger rupee means for the economy
A stronger Rupee means cheaper imports—think fuel and gadgets—and helps shrink India's trade deficit, which is good news for the economy.
It also makes India more attractive for investors and keeps markets steadier.
US dollar dips as Trump criticizes Fed's rate policy
The US Dollar took a hit after President Trump publicly pushed for a big interest rate cut, clashing with the Federal Reserve's steady approach.
Add in worries about upcoming US tariff deadlines, and Asian currencies like the Rupee got a lift as investors looked for safer bets.