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Indian rupee appreciates on Tuesday amid positive tone in domestic equities
Jul-01-2025

Indian rupee appreciated against US dollar on Tuesday supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite. Traders took support as India's manufacturing sector witnessed a strong growth in the month of June, reaching a fourteen-month high with improved trends in output and new orders, alongside a record upturn in employment. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 58.4 in June from 57.6 in May. On the global front, Japanese yen strengthened against other major currencies in the European session on Tuesday, following the Bank of Japan's Tankan survey indicating that business sentiment among major Japanese firms has improved slightly, which increased the likelihood of additional rate hikes by the Japanese central bank.

Finally, the rupee ended at 85.59 (Provisional), appreciated by 17 paise from its previous close of 85.76 on Monday. The currency touched a high and low of 85.66 and 85.34 respectively.

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