Rupee falls 19 paise to 85.15 against U.S. dollar in early trade

Rupee weakens against dollar due to geopolitical tensions, while foreign fund inflows and crude oil prices offer support.

The rupee depreciated 19 paise to 85.15 against the U.S. dollar in early trade on Wednesday (April 30, 2025), driven by renewed geopolitical tensions and increased demand for the U.S. dollar, which together exerted pressure on the local unit.

Forex traders said geopolitical tensions between India and Pakistan have sparked risk-off sentiment in the market leading to the rupee weakness.

However, foreign fund inflows and crude oil prices cushioned the downside for the domestic unit.

At the interbank foreign exchange, the domestic unit opened at 85.15 against the greenback, registering a fall of 19 paise over its previous close.

On Tuesday (April 29, 2025), the rupee gained 27 paise to settle at 84.96 against the U.S. dollar.

"Looking ahead, the rupee is expected to find immediate support in the 84.90–85.00 range, with a slight upward bias, moving towards the 85.80–86.00 levels in the near term," CR Forex Advisors MD Amit Pabari said.

Meanwhile, amid rising tensions between India and Pakistan, the U.S. has called on both countries "not to escalate" the conflict. Secretary of State Marco Rubio will speak to Foreign Ministers of both countries."