Rupee strengthens against US dollar on Friday
The Indian rupee strengthened against the US dollar on Friday, amidst firm domestic equity markets followed by renewed global optimism and rising expectations of a potential trade agreement between the United States and India. Rupee improved further after reports showed that India’s GST collection rose 12.6% year-on-year to an all-time high of about Rs 2.37 lakh crore in April against Rs 2.10 lakh crore in April last year, which was the second-highest collection ever since GST was rolled out in July 2017. Moreover, foreign fund inflows into the Indian capital market and hopes of progress in US-China tariff talks have also supported rupee sentiments. Foreign institutional investors bought shares worth Rs 50.57 crore, while domestic institutional investors were net buyers to the tune of Rs 1,792.15 crore in the Indian equity market on April 30, 2025, exchange data showed.
The partially convertible currency is currently trading at 83.85, stronger by 69 paise from its previous close of 84.54 on Wednesday. The currency touched a high and low of 84.0025 and 83.76 respectively.
