As of January 22, 2025, the Indian Rupee (INR) exhibited notable movements in the foreign exchange market, influenced by regional trends and global economic developments.
Opening and Closing Rates:
- The INR opened at 86.50 to 86.52 per U.S. Dollar (USD), appreciating from the previous close of 86.5775. citeturn0news12
- By the end of the trading session, the INR strengthened further, closing at 86.3225 per USD, marking an approximate 0.3% gain. citeturn0news13
Factors Influencing the Rupee's Performance:
1. Regional Currency Trends: The INR's appreciation aligned with gains in other Asian currencies, which rallied following the inauguration of U.S. President Donald Trump. Despite initial optimism, uncertainties persist due to potential U.S. trade tariffs. citeturn0news12
2. Central Bank Interventions: The Reserve Bank of India (RBI) likely engaged in dollar-rupee buy/sell swaps, leading to a decline in forward premiums and supporting the INR's strength. citeturn0news13
3. Capital Outflows: January witnessed capital outflows from Indian equities totaling $6 billion, exerting pressure on the INR. citeturn0news12
Historical Context:
- On January 21, 2025, the USD to INR exchange rate was 86.59. citeturn0search0
- The INR reached its lowest point of 85.578 per USD on January 1, 2025, and peaked at 86.651 per USD on January 13, 2025. citeturn0search2
Stock Market Highlights:
- HDFC Bank Ltd.: Shares rose by 1.42% to ₹1,665.05, outperforming the BSE SENSEX Index, which increased by 0.75% to 76,404.99. citeturn0news14
- IndusInd Bank Ltd.: Shares increased by 1.27% to ₹972.50, also surpassing the broader market performance. citeturn0news15
- ICICI Bank Ltd.: Shares edged up 0.35% to ₹1,200.30, underperforming compared to the overall market. citeturn0news16
*Note: Exchange rates are subject to rapid fluctuations due to market dynamics. It's advisable to consult multiple sources and exercise caution when making financial decisions.*
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