Rupee vs dollar news: The rupee crossed the 88 level for the first time in the interbank foreign currency exchange market amid increasing tension on the Indo-US trade agreement. At the end of the trading, it fell by 51 paise to close at the lowest level of 88.09 per dollar. The rupee is under constant pressure due to the US heavy duty, continuous withdrawal of foreign capital and dollar demand at the end of the month. In addition, the weak trend in domestic stock markets also affected the market notion. The rupee closed at 87.58 against the US dollar with a gain of 11 paise on Thursday.
Forex traders said that the rupee is under constant pressure due to the US imposation, continuous withdrawal of foreign capital and dollar demand in the end of the month. In addition, the weak trend in domestic stock markets also affected the market notion.
The rupee opened at 87.73 against the dollar, the rupee in the Interbank Forex Exchange Market. Then rolled to the lowest level of 88.33 per dollar day. Finally closed at an all -time low of 88.09 per dollar, which is a steep fall of 51 paise against the previous closed price.
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The rupee closed at 87.58 against the US dollar with a gain of 11 paise on Thursday. This is the first time the rupee has crossed the US $ 88 per level. The rupee reached 87.95 per dollar during trading on 10 February 2025. On August 5, 2025, the rupee closed at 87.88 against the dollar.
Anuj Chaudhary, a research analyst (currency and commodity) of Mirae Asset Sharekhan, said, “We estimate that the rupee will trade with a negative attitude as the US has increased concerns about India’s trade deficit due to the US imposition of additional trade fee.” The pressure of selling weak domestic market and foreign capital can cause further pressure on the rupee.
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Chaudhary said, the dollar-dollar price is estimated to be between 87.90 and 88.70. Meanwhile, the dollar index, depicting the US dollar position against six major currencies, rose by 0.14 percent to 97.94. In domestic stock markets, the Sensex fell 270.92 points to 79,809.65 points and the Nifty slipped 74.05 points to close at 24,426.85 points.
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International standard Brent crude fell by 0.76 percent to $ 68.10 per barrel. According to the stock market data, foreign institutional investors (FIIs) remained a net selling in the capital market and on Friday sold shares worth Rs 8,312.66 crore. (Input agency)
Edited by: Chetan Gour
