On Friday, the Indian rupee strengthened against the US dollar, buoyed by robust domestic stock market performance, a wave of global optimism, and expectations around a potential trade deal between the US and India.
A noteworthy boost to confidence came from record GST collections in April, totaling Rs 2.37 crore, which marked a 12.6% increase from the previous year.
The influence of foreign investments was also significant, as foreign institutional investors poured in Rs 50.57 trillion, with stock purchases amounting to 1,792.15 on April 30, 2025.
This led the rupee to appreciate by 69 paise, trading at 83.85 per USD compared to its earlier close of 84.54. Throughout the day, it fluctuated between 83.76 and 84.0025.
In summary, better economic indicators and increased investor inflows played a crucial role in driving the rupee’s upward trend.
