Overview

• The rupee appreciated 38 paise to close at 85.03 against the US dollar, marking a significant recovery from its recent lows.
• India's forex reserves increased by $8.31 billion to $686.145 billion for the week ending April 18, bolstering investor confidence.
• Sustained foreign institutional investments, with net equity purchases of Rs 2,952.33 crore on Friday, contributed to the rupee's strength.
• Easing crude oil prices and a stable dollar index further supported the rupee's performance in the currency market.
• Geopolitical risks, such as potential India-Pakistan tensions, remain a key factor that could influence the rupee's future trajectory.