On January 10, 2025, the Indian rupee traded up at 85.87 to the U.S. dollar, against 85.86 at the previous close yesterday. The rupee had hit a record low of 85.94 against the dollar during the day on Thursday, surpassing its previous record low of 85.86 hit earlier this week.
As per news reports, further losses in the rupee yesterday were capped amid dollar sales by state-run banks.
The dollar index reached 109, rising 0.11% today, while Asian currencies showed mixed performance.
The dollar and U.S. bond yields have risen in recent weeks due to expectations of cautious rate cuts by the Federal Reserve and the potential inflationary effects of incoming U.S. President Donald Trump’s policies.
The release of the Fed’s December meeting minutes on Wednesday highlighted growing concerns about inflation, with uncertainty surrounding Trump’s policies adding to the economic outlook’s volatility.
Investors are keeping a close eye on important events ahead, such as the U.S. December jobs report on January 12, inflation data on January 15, and President-elect Donald Trump’s inauguration on January 20.
Brent crude oil futures are 0.38% up, at $77.21 per barrel as of January 10, 2025. NSDL Data release showed Foreign Institutional Investors (FIIs) pulled out ₹10,587.17 crore yesterday and ₹28,842 crore this month, indicating increased risk aversion. At the same time, rising crude oil prices add pressure to India’s current account deficit.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 10, 2025, 11:16 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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