HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Indian rupee appreciates on Tuesday amid hopes of de-escalation in Middle East tensions
Jun-24-2025

Indian rupee appreciated against US dollar on Tuesday as global crude oil prices went down following hopes of de-escalation in Middle East tensions. Traders took support as S&P Global Ratings has raised India's Gross Domestic Product (GDP) forecast to 6.5 per cent for current fiscal (FY26) assuming a normal monsoon, lower crude oil prices, income-tax concessions and monetary easing. S&P's growth estimates for India is in line with the projections made by central bank RBI earlier this month at 6.5 per cent. On the global front, antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Tuesday amid increased risk-on mood by the investors, on reports that Israel and Iran have agreed to a complete and total ceasefire to be phased in over 24 hours.

Finally, the rupee ended at 86.05 (Provisional), appreciated by 73 paise from its previous close of 86.78 on Monday. The currency touched a high and low of 86.27 and 85.91 respectively.

  RELATED NEWS >>