Rupee falls 29 paise to close at 85.90 against U.S. dollar
The Hindu
Rupee falls against dollar due to geopolitical tensions and oil prices, RBI expected to cut rates, equity market mixed.
The rupee depreciated for the second consecutive session and settled for the day lower by 29 paise at 85.90 (provisional) against the U.S. dollar on Wednesday (June 4, 2025), dragged down by risk-averse sentiments and foreign fund outflows.
Forex traders said the local unit remained under pressure on geopolitical tensions between Russia-Ukraine and elevated crude oil prices.
Moreover, investors are also awaiting cues from the Reserve Bank’s monetary policy announcements, they said.
The Reserve Bank’s rate-setting panel started its three-day brainstorming on monetary policy on Wednesday (June 4, 2025) and the outcome is scheduled to be announced on June 6.
Experts are of the view that the RBI may reduce the repo rate by 25 basis points (bps) on Friday (May 31, 2025) and another similar cut in the next policy. SBI research expects the central bank to go in for a “jumbo” rate cut of 50 bps in June itself.
At the interbank foreign exchange, the domestic unit opened at 85.69 and moved between the high of 85.69 and a low of 86.05 against the greenback during the day.
The unit closed the session at 85.90 (provisional) against the dollar, registering a loss of 29 paise from its previous close. On Tuesday (June 3, 2025), the rupee depreciated 22 paise to settle at 85.61 against the U.S. dollar.
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