Rupee Falls 25ps to 86.56/$

Mumbai: The rupee depreciated 25paise to close at 86.56 against the US dollar on Tuesday, as global risk sentiments were dampened amid tariff threats by the US President Donald Trump. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and the strength of the American currency in the overseas market amid unabated dollar demand from oil importers and weak risk appetite. At the interbank foreign exchange, the rupee opened on a weak note at 86.53, and during the day touched a high of 86.50 and a low of 86.57 against the American currency.

The local unit settled for the day at 86.56, registering a fall of 25paise over its previous close. On Monday, the rupee depreciated 9paise to close at 86.31 against the US dollar. “The Indian rupee declined as global risk sentiments were dampened amid tariff threats by the US President Donald Trump. This impacted the Chinese Yuan, which also led to strengthening of the US dollar,” said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan. Choudhary further said a surge in US treasury yields and FII outflows also pressurised the rupee.