Rupee’s Biggest Jump in 6 Years!

The Indian rupee recorded its strongest monthly gain in over six years, fueled by steady foreign inflows into equities and bonds. On March 28, the currency hit a three-month high of 85.4512 against the US dollar, its best level since December 26, 2024. Bloomberg data shows the rupee appreciated 2.36% this month, the highest since November 2018 when it surged 5.91%.

Foreign investors injected over $2 billion into equities and $3 billion into bonds, with debt inflows turning positive at ₹35,000 crore. Equities alone saw ₹33,000 crore inflows in just seven sessions. Experts believe easing inflation, which fell below the RBI’s 4% target, also supported the currency’s strength.

Amit Pabari, MD at CR Forex Advisors, stated that robust domestic equities and sustained foreign inflows could stabilize the rupee further. With global market dynamics and investor sentiment improving, the rupee may continue its recovery in the coming months.

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