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Rupee appreciates against dollar on Wednesday
Jul-09-2025

Indian rupee appreciated against the US dollar on Wednesday following optimism over a possible trade deal with the U.S. and a delay in the imposition of reciprocal tariffs. Investors took support with Economic think tank Global Trade Research Initiative’s (GTRI) statement that India could be among the countries expected to finalise a trade deal with the US soon. Traders took note of an Australian official’s statement that India is in talks with Australia to source rare earth minerals. The development assumes significance in the wake of rare earth magnet shortage caused by Chinese export restrictions. On the global front, New Zealand dollar retreated from recent highs against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand's (RBNZ) widely anticipated decision to maintain rates constant.

Finally, the rupee ended at 85.70 (Provisional), appreciated by 03 paise from its previous close of 85.73 on Tuesday. The currency touched a high and low of 85.93 and 85.65 respectively.

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