Rupee falls 8 paise to 84.38 against U.S. dollar in early trade
The Hindu
Rupee falls against US dollar amid geopolitical tensions, oil price fluctuations, and uncertainty in global markets.
The rupee traded in a narrow range in morning trade on Tuesday (May 6, 2025) and fell 8 paise to 84.38 against the U.S. dollar, tracking the rise in the dollar index and fall in Asian currencies, amid growing uncertainty and a cautious recalibration of risk appetite.
According to (Foreign Exchange) Forex traders, the USD/INR pair was supported by an overall decline in crude oil prices and sustained foreign fund inflows while ongoing geopolitical tensions between India and Pakistan weighed on investor sentiment, keeping the rupee on edge.
At the interbank foreign exchange, the domestic unit opened at 84.28 and fell to an early high of 84.26 and a low of 84.38 against the greenback, registering a loss of 8 paise over its previous close.
On Monday, the rupee surged 24 paise to settle at 84.30 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.03% at 99.79.
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