New Delhi, May 3 -- The Indian rupee is likely to trade with an appreciating bias in the near term, supported by a mix of favorable domestic and global factors, according to a recent report by Bank of Baroda.

The report expects the rupee to move in the range of 84-85 per US dollar in the coming days.

It said, "We expect INR to trade with an appreciating bias in the near-term in the range of 84-85/USD. However, escalation in US-China trade relations poses a significant risk to our view."

In April 2025, the rupee appreciated by 1.1 per cent, following a stronger gain of 2.4 per cent in March 2025. This rise was mainly due to a sharp decline in the US dollar, which weakened on the back of a sluggish economic outlook in the United States. ...