Rupee rises 23 paise to close at 87.36 against US dollar
GST
Dated:- 18-8-2025
PTI
New Delhi, Aug 18 (PTI) The rupee appreciated 23 paise to close at 87.36 (provisional) against the US dollar on Monday, supported by strong domestic equities.
Forex traders said the Indian rupee traded on the positive territory on the GST reforms that Prime Minister Narendra Modi recommended in his August 15 address to the nation.
Forex traders said the uncertainty over trade tariffs issue between India and the US is likely to keep market participants cautious.
At the interbank foreign exchange market, the rupee opened at 87.46 against the US dollar, and touched an intraday low of 87.48 and a high of 87.33 and settled at 87.36 (provisional),
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bs of 5 per cent and 18 per cent, plus a special 40 per cent top bracket for 5-7 demerit goods.
The proposed two-slab regime, if approved by the GST Council, will replace the current four slabs in the Goods and Services Tax (GST) regime, doing away with the 12 per cent and 28 per cent slabs.
Meanwhile, Brent crude prices rose 0.70 per cent to USD 66.31 per barrel in futures trade.
Investors will monitor Federal Reserve Chair Jerome Powell's comments at Jackson Hole this week for clues on the path of interest rate cuts in its next meeting in September, traders said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 97.98.
On the domestic equity market front,
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