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Rupee depreciates 22 paise to 85.61 against US dollar
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....upee depreciates 22 paise to 85.61 against US dollar<BR>PTI News<BR>Dated:- 3-6-2025<BR>PTI<BR>Mumbai, Jun 3 (PTI) The rupee depreciated 22 paise to settle at 85.61 against the US dollar on Tuesday, weighed down by a firm American dollar, while selling pressure in secondary markets added further weakness to the currency. According to forex traders, the local unit remained under pressure tracking....
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.... 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 betwe....
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....en the high of 85.44 and a low of 85.63 against the greenback during the day. The unit closed the session at 85.61 against the dollar, registering a loss of 22 paise from its previous close. On Monday, the rupee appreciated 16 paise to settle at 85.39 against the dollar. "The Indian rupee erased Monday's gains amid risk-averse sentiments, a rebound in the US dollar, and foreign fund outflows. ....
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....The local currency has been consolidating within a narrow range over the past five days, awaiting fresh triggers -- most notably the upcoming RBI policy announcement," said Dilip Parmar – Senior Research Analyst, HDFC Securities. In the near term, the spot USD/INR is expected to trade between 85.10 and 85.90, Parmar added. Meanwhile, the dollar index, which gauges the greenback's strength ag....
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....ainst a basket of six currencies, was trading higher by 0.45 per cent at 99.14. Brent crude, the global oil benchmark, rose 1.56 per cent to USD 65.64 per barrel in futures trade. "Trade tensions between US 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 US," Anu....
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....j Choudhary, Research Analyst at Mirae Asset Sharekhan, said, adding, "USD-INR spot price is expected to trade in a range of 85.20 to 85.90," In the domestic equity market, the 30-share BSE Sensex tanked 636.24 points, or 0.78 per cent, to close at 80,737.51, while the Nifty declined 174.10 points, or 0.70 per cent, to 24,542.50. Foreign institutional investors (FIIs) sold equities worth Rs 2,....
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....853.83 crore on a net basis on Tuesday, according to exchange data. A monthly survey released on Monday showed India's manufacturing sector growth fell to a three-month low in May, restricted by inflationary pressures, softer demand and heightened geopolitical conditions. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.2 in April to 57.6 in May, h....
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....ighlighting the weakest improvement in operating conditions since February. PTI HVA DRR<BR> News - Press release - PIB....