Rupee appreciated 40 paise to close at 86.99 against US dollar
GST
Dated:- 19-8-2025
PTI
Mumbai, Aug 19 (PTI) The rupee appreciated 40 paise to close at 86.99 (provisional) against the US dollar on Tuesday, supported by optimism over GST restructuring and positive domestic equity markets.
Forex traders said rupee is expected to trade with a positive bias as easing worries over additional tariffs by the US boosted market sentiments after the meeting between US President Donald Trump and Russian President Vladimir Putin.
At the interbank foreign exchange market, the rupee opened at 87.24 against the US dollar, touched an intraday low of 87.31 and a high of 86.92, and settled at 86.99 (provisional), registering a gain of 40 pai
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r 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.
“We expect the rupee to trade with a positive bias on upbeat domestic market sentiments due to GST rationalisation and fading trade tariff concerns. Falling crude oil prices and overall weakness in the greenback may also support the rupee,” Chaudhary said.
However, increased demand of dollar by importers may cap sharp gains. Traders may take cues from building permits and housing starts data from the US. USD-INR spot price is expected to trade in a range of 86.70 to 87.40, Chaudhary said.
Meanwhile
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