Amid Iran-Israel conflict, India shows its strength, Asia likely to witness another kind of war, know what it is…
The dollar index, which measures the strength of the dollar against a basket of six currencies, fell 0.20 per cent to 97.98.
The Iran-Israel war has become the centre of attention of the world currently because of which the prices of crude oil and gold ae increasing tremendously. Amid this, a new war has started in Asia once again. This is the currency war. India’s currency rupee gained after falling against the US dollar on Monday.
With the ongoing conflict, prices of crude oil and gold are set to increase further. However, the rupee rose 11 paise to 85.93 against the US dollar in early trade on Tuesday (June 17, 2025) defying pressures from a weak opening in the domestic markets, rise in global crude oil prices and a stronger dollar.
7 reasons that led to the rise in the rupee:
According to the latest government data released on Monday, India’s exports declined by 2.17 percent to $ 38.73 billion in May, while the trade deficit stood at $ 21.88 billion. Imports declined by 1.7 percent year-on-year to $60.61 billion in May.
According to government data, wholesale inflation in the country declined to 0.39 percent in May due to a decrease in the prices of food items, manufactured products and fuel. Wholesale Price Index-based inflation was 0.85 percent in April. It was 2.74 percent in May last year.
Meanwhile, the 30-share BSE Sensex jumped 677.55 points to close at 81,796.15 points in the domestic stock market, while the Nifty climbed 227.90 points to 24,946.50 points.
In the international market, Brent crude from Gulf countries fell 0.79 percent to 73.64 per barrel. In the last few days, prices had risen due to the escalation of the Israel-Iran conflict.
The dollar index, which measures the strength of the dollar against a basket of six currencies, fell 0.20 per cent to 97.98.
The Reserve Bank of India said on Friday that India’s foreign exchange reserves rose by $5.17 billion to $696.65 billion in the week ended June 6.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 1,263.52 crore on a net basis on Friday.
With PTI inputs
