Rupee Posts Second Week Of Gains Against Dollar
The local currency closed seven paise lower at 85.39 against the greenback on Friday.
The Indian rupee marginally weakened against the US dollar on Friday, while posting a second consecutive weekly gain.
The local currency closed seven paise lower at 85.39 against the greenback on Friday, coming off a one-month peak achieved in the session earlier. Intraday, the unit fell 16 paise.
For the week, the rupee appreciated by 0.1% or 10 paise due to positive foreign capital inflows. In the previous week, the currency gained 1.3%. In 2025 so far, the unit has strengthened 0.26%.
A dip in the dollar index, following a rise in the previous session, caused most Asian currencies to be mostly rangebound. The rupee was the third-worst performer in Asia, after the Taiwan dollar and the Philippine peso.
The dollar index, which measures the American currency against a basket of currencies, shed 0.25% to 96.94, as the Japanese yen gained 0.5% and the euro added 0.2%. The pound was flat.
India and the US are negotiating a trade deal to be signed ahead of the July 9 tariff deadline.
