Indian Rupee slipped around 30 paise to quote at 85.60 per US dollar today, giving up gains seen in last session. INR recorded modest gains against the US dollar yesterday 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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