Rupee falls 3 paise to 85.78 against US dollar

January 03, 2025 10:28

The rupee depreciated 3 paise to 85.78 against the US dollar in early trade on Friday, weighed down by the strength of the American currency in the overseas market and a muted trend in domestic equities.

Forex traders said the US dollar gained against most currencies during 2024 and continued to remain on a strong footing this year. Moreover, the market will keep its focus on Donald Trump's policies which could boost growth but could also increase price pressures and this would keep the US FED on a hold for longer on interest rate cuts.

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