Rupee declines 17 paise to 85.97 against U.S. dollar in early trade
Uncertainties over U.S. trade tariffs further pressured the rupee, according to forex experts.
At the interbank foreign exchange, the local unit opened 85.96 against the U.S. dollar before slipping to 85.97, down 17 paise from its previous close. The rupee had closed at 85.80 against the U.S. dollar on Friday (July 11, 2025).
"As (U.S. President Donald) Trump applies tariffs on various countries, India remains out of the tariffs band for now with negotiations still on to finalise the amount of tariff that the US could apply. The range for rupee during the day is expected to be 85.50-86.00," Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08%to 97.93.
Brent crude, the global oil benchmark, was down 0.19% to $70.02 per barrel in futures trade.
On the domestic equity market front, the Sensex dropped 295.37 points to 82,205.10, while the Nifty was down 71.4 points to 25,078.45.
Foreign institutional investors (FIIs) sold equities worth ₹5,104.22 crore on a net basis on Friday, according to exchange data.
Further, the latest Reserve Bank of India data released on Friday showed India's forex reserves dropping $3.049 billion to $699.736 billion in the week ended July 4.
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