Rupee declines 21 paise to 85.60 against U.S. dollar
The Hindu
Rupee weakens against dollar due to geopolitical tensions and FII outflows, awaiting RBI's monetary policy announcement.
The rupee declined 21 paise to settle at 85.60 (provisional) against the U.S. dollar on Tuesday (June 3, 2025), weighed down by a firm American currency and outflow of foreign funds.
According to forex traders, the local unit remained under pressure tracking negative domestic equity markets amid geopolitical uncertainties. Investors are also awaiting cues from the Reserve Bank's monetary policy announcements.
RBI's Monetary Policy Committee (MPC) will begin deliberations on its bi-monthly policy on Wednesday and the outcome is scheduled to be announced on June 6.
At the interbank foreign exchange, the domestic unit opened at 85.55 and moved between the high of 85.44 and a low of 85.60 against the greenback during the day. The unit closed the session at 85.60 (provisional) against the dollar, registering a loss of 21 paise from its previous close.
On Monday, the rupee appreciated 16 paise to settle at 85.39 against the dollar.
Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee weakened against the dollar on weak domestic equities and FII outflows.
"Trade tensions between U.S. and China and renewed geopolitical tensions between Ukraine and Russia may also weigh on the domestic unit. Traders may take cues from job openings and factory orders data from the U.S.," Choudhary said, adding, "USD-INR spot price is expected to trade in a range of 85.20 to 85.90." Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25% at 98.95.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.
Suzlon announces three new AI-enabled smart blade factories, expanding its manufacturing footprint to 20 facilities in India.
Odisha Government terminates Silicon Tech Lab's empanelment for involvement in a recruitment scam and service agreement violations.
Worli, Mumbai, dominates India’s ultra-luxury apartment market, accounting for 40% of transactions worth ₹5,500 crore in two years.
IndiGo faces disruptions due to a hiring freeze, prompting pilots' body to urge regulatory intervention for safe operations.
Nvidia CEO Jensen Huang met separately with U.S. President Donald Trump and Republican senators Wednesday
Rupee falls to 90.43 against the dollar amid RBI's restrained intervention and high importer demand, causing market concerns.
Meta’s poaching of Apple's Alan Dye underscores its push to expand consumer hardware beyond its smart glasses