Rupee declines 10 paise to 85.49 against U.S. dollar in early trade
The Hindu
Indian rupee weakens against the dollar amid volatile equity markets and RBI policy deliberations, while GDP growth exceeds expectations.
The rupee depreciated 10 paise to 85.49 against the U.S. dollar in early trade on Tuesday (June 2, 2025) amid a slight recovery in the American currency against major rivals, higher crude oil prices and outflow of foreign funds.
Volatile domestic equity markets ahead of the Reserve Bank’s monetary policy announcements also weighed on the Indian currency, forex traders said.
RBI’s Monetary Policy Committee (MPC) will begin the deliberations on its next bi-monthly policy on June 4 and the outcome is scheduled to be announced on June 6.
At the interbank foreign exchange, the domestic unit opened weak and stayed in a narrow range, trading 10 paise lower at 85.49 against the greenback in initial deals.
On Monday (June 2, 2025), the rupee appreciated 16 paise to settle at 85.39 against the dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.23% at 98.86.
Brent crude, the global oil benchmark, rose 0.51% to $64.96 per barrel in futures trade.
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