Indian Rupee recorded modest gains against the US dollar today amid steady cues from equities. INR edged up to 85.28 per US dollar, up 8 paise on the day. The Nifty ended above the 24,650 mark. The US dollar index eased after recent surge and currently trades at 100.33, down 0.50% on the day. Falling inflation is auguring well for the domestic economic undertone. India's wholesale price inflation based on the all-India Wholesale Price Index (WPI) eased to 0.85% on year in April, as per the data released by the Ministry of Commerce and Industry. This is the lowest level in 13 months. Yesterday, Ministry of Statistics & Programme Implementation stated that year-on-year inflation rate based on All India Consumer Price Index (CPI) for the month of April, 2025 over April, 2024 is 3.16% (Provisional). There is decline of 18 basis points in headline inflation of April, 2025 in comparison to March, 2025. It is the lowest year-on-year inflation after July, 2019.

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