Rupee trims fiscal year loss after March surge but tariff risk lingers

Rupee gained 2.3% in March, closing at 85.47/USD, recovering from its record low of 87.95 in February.

Losses for FY24 trimmed to 2.4%, aided by rising inflows and easing bearish sentiment.

Seasonal corporate inflows and foreign money returning to stocks supported the rupee.

Increased volatility in Q4 hints at a possible shift in RBI’s intervention strategy.