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Rupee Closes at ₹86.96 per Dollar as US Dollar Index Falls

6 March 20251 min read
ECONOMYRupee Closes at₹86.96 per Dollaras US Dollar IndexFalls6 March 2025safalsetu.com

Why in the news

The rupee strengthened to ₹86.96, its best single-day gain since February 11, on a softer dollar.

Key facts

  • Close: ₹86.96/USD versus ₹87.27 before.
  • Dollar index at 104.9, amid US growth and tariff worries.
  • State-run banks sold dollars for the RBI to curb volatility.
US tariff onLevel
Mexico, Canada25%
ChinaDoubled to 20%
IndiaReciprocal, from April 2

Outlook

  • Short term: positive bias for the rupee.
  • Longer term: slide towards ₹88-89/USD expected.

Exam angle

  • Dollar index: 104.9.

Test yourself

1. At what level did the rupee close against the US dollar after gaining 0.36%?

The rupee closed at ₹86.96/USD versus ₹87.27 earlier.

2. The dollar index fell 0.6% to what level, its lowest since November 2024?

The index slid to 104.9.

3. From which date did Trump say reciprocal tariffs would hit India?

Reciprocal tariffs on India were flagged from April 2.

This topic is part of Daily Current Affairs 6 March 2025 (15 topics).

All topics of the dayDay quizMarch 2025

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