USD/INR ATTRACTS SOME BUYERS ON PAHALGAM TERROR ATTACK
USD/INR ATTRACTS SOME BUYERS ON PAHALGAM TERROR ATTACK
The Indian Rupee (INR) has depreciated against the U.S. Dollar (USD) following the tragic terrorist attack in Pahalgam, Kashmir.
The USD/INR currency pair has edged lower, with the INR weakening amid rising crude oil prices and increased demand for the USD.
This development has led to some buyers entering the market.
On April 22, 2025, militants opened fire on tourists in the Baisaran Valley near Pahalgam, Jammu and Kashmir.
At least 28 people were killed, and over a dozen injured in what is considered the deadliest civilian attack in the region in recent years.
The group "Kashmir Resistance," a proxy of the Pakistan-based Lashkar-e-Taiba (LeT), claimed responsibility for the attack.
The attack has heightened geopolitical tensions, leading to increased demand for the USD as a safe-haven currency.
This shift in investor sentiment has contributed to the weakening of the INR.
rising crude oil prices have further pressured the Indian currency, as India is a major importer of oil.
World leaders, including U.S. President Donald Trump and Russian President Vladimir Putin, have condemned the attack.
President Trump expressed strong support for India, stating, "The United States stands strong with India against terrorism.
" President Putin condemned the "brutal crime" and called for the perpetrators to face deserved punishment.
The INR's depreciation has led to increased volatility in the USD/INR exchange rate.
