Indian Currency: Prime Minister Narendra Modi had said that the Centre has circulated the draft of GST reforms among the states and has sought their cooperation to implement the proposal before Diwali.

Rupee vs Dollar: The Indian rupee also witnessed a tremendous rise on Tuesday, August 19, 2025, the second trading day of the week. As soon as the trading started, the rupee rose by 19 paise against the dollar to reach the level of 87.20. Foreign exchange traders say that the announcement made by PM Modi regarding tax reforms, including GST reform has had a direct impact on the domestic market. This is the reason why the rupee remains above its current level.

It is worth noting that Prime Minister Narendra Modi had said that the Center has distributed the draft of GST reforms among the states and their cooperation has been sought to implement the proposal before Diwali. If the proposed 'two slab' system gets the approval of the GST Council, then it will replace the existing four 'slabs' in the Goods and Services Tax (GST) system and the 12 percent and 28 percent 'slabs' will be abolished.

Rupee strengthened The

The rupee opened at 87.24 against the US dollar in the Interbank Foreign Exchange Market. After that it reached 87.20, which shows a rise of 19 paise from the previous closing price. A day earlier, on Monday, the Indian rupee closed at 87.39 against the US dollar. Meanwhile, the dollar index, which shows the position of the US dollar against six major currencies, rose by 0.05 percent to 98.21.

Rise in the stock market:

In the domestic stock markets, the Sensex rose 203.44 points to 81,477.19 points in early trade and the Nifty rose 53.4 points to 24,930.35 points. At the same time, the international standard Brent crude slipped 0.44 percent to $ 66.31 per barrel. According to stock market data, foreign institutional investors (FIIs) remained bullish on Monday and bought shares worth a net Rs 550.85 crore.