logo
Rupee rises 12 paise to 85.80 against U.S. dollar in early trade

Rupee rises 12 paise to 85.80 against U.S. dollar in early trade

The Hindu17-07-2025
The rupee rose 12 paise to 85.80 against the U.S. dollar in early trade on Thursday (July 17, 2025) amid a drop in global crude oil prices and a hope of a breakthrough in the ongoing India-U.S. trade talks.
However, a strengthening dollar against overseas currencies and FII outflows prevented sharper gains in the local unit, according to forex traders.
At the interbank foreign exchange, the rupee opened weaker at 85.93 against the U.S. dollar but moved into positive territory to 85.80, up 12 paise from its previous close.
The rupee had declined 16 paise against the U.S. dollar to close at 85.92 on Wednesday (July 16, 2025).
An Indian Commerce Ministry team is in Washington for another round of talks on the proposed bilateral trade agreement. The four-day talks, which started on Monday (July 14, 2025), will conclude on Thursday.
U.S. President Donald Trump has said that the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday (July 15, 2025).
"The rupee in a volatile move moved from 86.06 to 85.73 and then closed at 85.92 on Wednesday as dollar index was up. For today (Thursday), rupee is expected to be in the range of 85.75/86.25 with RBI resisting the currency pair near to 86.00 level," Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, said.
Brent crude, the global oil benchmark, was down 0.36% to $68.46 per barrel in futures trade.
"Brent oil prices rose after U.S. data showed a sharper-than-expected drop in crude inventories, highlighting tight supplies, while investors remained cautious ahead of potential U.S. tariff announcements on 150 countries as part of his ongoing agenda prompting global efforts to avoid steeper import duties," Mr. Bhansali said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.17% to 98.55.
On the domestic equity market front, the Sensex rose 119.05 points to 82,753.53 in opening trade, while Nifty was up 18.7 points to 25,230.75.
Foreign institutional investors (FIIs) sold equities worth ₹1,858.15 crore on a net basis on Wednesday, according to exchange data.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Goa stands to benefit from India-UK free trade agreement: GCCI
Goa stands to benefit from India-UK free trade agreement: GCCI

Time of India

time19 minutes ago

  • Time of India

Goa stands to benefit from India-UK free trade agreement: GCCI

Panaji: The India-UK free trade agreement (FTA) will significantly benefit Goa's pharmaceutical companies, tourism sector, and feni producers, said the Goa Chamber of Commerce and Industry (GCCI) on Saturday. GCCI president Pratima Dhond said that the recent signing of the trade agreement between the two nations could provide a much-needed boost to Goa's economy. The FTA provides zero-duty access to the UK market for nearly 99% of Indian exports, including pharmaceuticals. While the UK imports nearly $30 billion worth of medicines and medical devices, India's pharma exports to the UK currently stand at under $1 billion. The bilateral agreement is anticipated to unlock major export opportunities for the sector. Goa is ranked sixth in pharmaceutical exports, with an overall share of 5.6%. 'This landmark agreement is expected to significantly enhance trade and investment opportunities between India and the UK, with far-reaching benefits for the state,' she said. The FTA could lead to increased travel and tourism opportunities between India and the UK, and this will benefit Goa's tourism industry. Dhond said that Goa's feni industry will gain recognition in the British market with geographical indication protection, opening up new export opportunities. 'This will be a major boost for govt, which is promoting exports of Indian alcoholic beverages to global markets,' she said. Meanwhile, duty-free exports of marine products to the UK, textile businesses, and IT services also stand to benefit from the trade agreement, boosting the state's economy over the long term, said GCCI. The UK imports around $5.4 billion worth of marine products such as prawns, tuna, mackerel, sardines, squid, crab, and pomfret. India's current share in the UK's marine imports is just 2.3%, but this share is projected to double after the FTA. All coastal states stand to benefit from export-led job creation. 'Indian professionals, including those from Goa, will have easier access to the UK market, with relaxed visa procedures and exemptions from UK social security contributions,' said Dhond.

Company founded by the man called Donald Trump's guy in Silicon Valley hits another milestone, after beating IBM and Cisco in market cap
Company founded by the man called Donald Trump's guy in Silicon Valley hits another milestone, after beating IBM and Cisco in market cap

Time of India

time35 minutes ago

  • Time of India

Company founded by the man called Donald Trump's guy in Silicon Valley hits another milestone, after beating IBM and Cisco in market cap

Peter Thiel America has a new entrant in the list of most-valuable companies. And it is Peter Thiel 's defence technology company Palantir Technologies . This week, Palantir hit another major milestone in its meteoric stock rise seen in 2025. The company is now one of the 20 most valuable US companies, achieving a market capitalization of $375 billion. The provider of software and data analytics technology to defense agencies saw its stock rise more than 2% on Friday, July 25, to another record, taking the company's market cap above $350 billion, which puts it ahead of Home Depot and Procter & Gamble. With this, Palantir is now also bigger than Bank of America and Coca-Cola in market value. Earlier this year, Palantir soared ahead of Salesforce, IBM and Cisco into the top 10 U.S. tech companies by market cap. Peter Thiel, Donald Trump's Man in Silicon Valley The Denver-based Palantir Technologies was founded in 2003 by Peter Thiel and CEO Alex Karp, and others. Palantir co-founder Peter Thiel has been one of the most vocal supporter of Donald Trump during his 2024 Presidential campaign. Thiel is popularly known as the far-right billionaire investor. Not just in 2024, In the 2016 election too, Thiel eagerly embraced his role as the public face of support for Donald Trump from the tech sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After Losing Weight Kevin James Looks Like A Model 33 Bridges Undo A prominent conservative donor, he has reportedly contributed significant funding and public endorsements, aligning Palantir's strategic interests with a potential Trump administration. This political alignment has sparked speculation about further government contracts, boosting investor confidence in Palantir's growth trajectory. In 2025, the company's stock more than doubled, driven by investor enthusiasm for its artificial intelligence capabilities and deepening ties with the U.S. government. Revenue in Palantir's U.S. government business increased 45% to $373 million in its most recent quarter, while total sales rose 39% to $884 million. The company next reports results on August 4. With $3.1 billion in total revenue over the past year, Palantir is a fraction the size of the next smallest company by sales among the top 20 by market cap. Mastercard, which is valued at $518 billion, is closest with sales over the past four quarters of roughly $29 billion.

Indian mining seminar highlights responsible practices
Indian mining seminar highlights responsible practices

Time of India

time35 minutes ago

  • Time of India

Indian mining seminar highlights responsible practices

Nagpur: The two-day seminar on "Indian Mining: Present Scenario and Future Perspective," organised by the Mining Engineers Association of India (MEAI), ended on Saturday with experts emphasising on responsible mining and understanding the changing landscape of the sector. Chairman-cum-managing director (CMD) of Manganese Ore India Limited (MOIL), Ajik Kumar Saxena, who was the chief guest, spoke on the timely analysis of mining leftovers for identifying the possibility of finding critical minerals from mine waste, tailings, or slags. The CMD of Mineral Exploration and Consultancy Limited (MECL), also a Nagpur-based public sector undertaking, Indra Dev Narayan was the guest of honour. He said PSUs like MECL play a crucial role in shaping the future of the country's mining sector. "We have been instrumental in discovering reserves of nearly all major minerals across the country. In recent years, MECL has expanded its role beyond traditional drilling to advanced exploration technologies, data analytics, and remote sensing. MECL is now working as a knowledge partner to both govt and the private sector in this decade of critical mineral demand and energy transition," Narayan said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play this game for 1 minute and see why everyone is addicted. Undo The controller general of the Indian Bureau of Mines (IBM), Peeyush Narayan Sharma, stressed on the need for responsible mining along with the adoption of new technology. He also said nothing can be written off as waste in the mining sector.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store