Rupee Ends Lower Against US Dollar Ahead Of Trump Tariff Speech
Intraday, the rupee weakened by 28 paise to 85.73.
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The Indian rupee weakened by five paise against the US dollar on Wednesday ahead of US President Donald Trump's tariff announcement. The local currency ended at 85.51 against the greenback.
Intraday, the rupee weakened by 28 paise to 85.73.
On Friday, the rupee closed at the highest level in three months and posted its strongest weekly gain in over two years, driven by robust foreign inflows and domestic tailwinds.
The Reserve Bank of India has allowed the rupee to appreciate in real terms, which is being seen as an indication that the terminal repo rate may be lower in this rate cut cycle, according to analysts at IFA Global.
Internationally, the dollar edged lower as investors braced for reciprocal tariffs from Trump. The dollar index was trading 0.14% lower at 104.113 as of 3:45 p.m. India time.
Crude oil prices, which influence the rupee, were down as the international benchmark Brent traded 0.4% lower at $74.20 per barrel.
