Rupee ends near three-month high against dollar after erasing most of its losses for 2025

Currency experts said that traders to remain on the sidelines ahead of the USD/INR Buy/Sell swap auction to be held today.

Indian rupee has erased most of the losses it has faced in 2025 after appreciating in the last few days. The rupee ended 34 paise up on March 24 at 85.6375 against the US dollar, as compared to 95.97 against the US dollar.

In 2025, the local currency was down 0.03 percent. The local currency ended at best in over two months and best since January 1, 2025, when it was trading at 85.6488 against the US dollar, according to the Bloomberg data.

According to Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, uncovered exporters selling and foreign investors inflows is helping rupee to gain.
Also, the Reserve Bank of India’s (RBI) USD/INR Buy/Sell swap auction worth $10 billion for 36 months, which will be happening today is in focus, dealers said.

This will infuse Rs 86,000 crores of durable liquidity for 3 years to the market, experts said.
Indian rupee has been on the appreciating spree in the last few days due to multiple reasons such as decline in dollar index, easing Brent crude oil prices, lower retail inflation and shrinking trade deficit.

On Friday, Indian rupee has registered a best week in over two years today by rising over 1 percent. This was after it remained under pressure for the few months since last year, which led to heavy intervention by the Reserve Bank of India (RBI) to defend it.

The gains took place in the local currency this week was best in over two years due to global as well as domestic cues.

The local currency rose to a 10-week high of 85.9375 during the session and gained 1.2% in the week. This has been the best level for the rupee since January 9, when it traded near 85.8638 against the US dollar.