Rupee falls 14 paise to close at 86.59 against US dollar

Tue, 21 January 2025

19:45

The rupee pared initial gains and settled for the day lower by 14 paise to 86.59 (provisional) against US dollar on Tuesday, tracking heavy sell-off in the domestic equity market and a recovery in the US dollar index.

Forex traders said the dollar weakened from its 109 levels but clawed back to 108.66 as Donald Trump declared tariffs against Canada and Mexico in the near future but stopped short of declaring any tariffs against China.

Rupee is expected to see high volatility ahead of key events in the global and domestic economic landscape, they added.

At the interbank foreign exchange, the rupee opened on a positive note at 86.28 against the greenback.

During the day, the local unit touched an intraday high of 86.28 and a low of 86.59.

It finally closed at 86.59 (provisional), registering a fall of 14 paise over its previous close of 86.45 against the US dollar. -- PTI

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