Rupee rises 20 paise to close at 87.39 against US dollar
GST
Dated:- 18-8-2025
PTI
New Delhi, Aug 18 (PTI) The rupee appreciated 20 paise to close at 87.39 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 87.39, registering a gain of 20 pa
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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.
“Rupee gained today (Monday)… after the GST tax cuts announced by PM Modi and fading global risk factors after the Trump-Putin meeting. The RBI has been actively selling dollars as in the previous week the reserves fell about USD 10 billion,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
“The market is also expecting that the additional 25 per cent levy may go away once a peace deal is agreed upon between Ukraine and Russ
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