Rupee Performance Overview
- INR appreciated by 0.51% in April 2025 and 0.68% year-to-date (YTD).
- As of April 28, the rupee stood at ₹85.03/USD, marking a 0.49% gain for the day.
- Currency momentum remains strong, though psychological support at ₹85 is under watch.
- Top INR appreciation days in 2025:
- April 11: ₹86.05 (▲0.75%)
- Feb 11: ₹86.83 (▲0.74%)
- Apr 28: ₹85.03 (▲0.49%)
- Mar 21: ₹85.98 (▲0.46%)
- Mar 24: ₹85.64 (▲0.40%)
Global Currency Trends
- The US Dollar Index fell by 0.1% to 99.6.
- Global currencies such as the euro, pound, Thai baht, and Malaysian ringgit also appreciated in April, contributing to dollar weakness.
- Continued global optimism and broad dollar correction have supported EM currencies.
Bond Market Developments
- Benchmark 10-year Indian bond yield rose 4 basis points to 6.40% amid:
- Foreign banks’ profit booking
- Geopolitical caution (India–Pakistan tensions)
Upcoming Key Events
- RBI to introduce a new 10-year government bond in the upcoming weekly auction.
- Bond sale target: ₹30,000 crore.
- RBI Open Market Operations (OMO):
- Total: ₹1.25 trillion (₹1.25 lakh crore)
- Schedule: May 6, 9, 15, and 19
- Objective: Liquidity management and yield stabilization
The Indian rupee is on a strong footing backed by global dollar weakness, foreign fund inflows, and RBI’s proactive market operations. However, bond yields may remain volatile in the near term due to profit-taking and geopolitical risks.
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