Rupee nosedives 54 paise to settle at 85.94 against US dollar

Mon, 07 July 2025

20:41

The rupee logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday amid rising global crude oil prices and a strong American currency.

Subdued sentiment in domestic equities due to uncertainties over US President Donald Trump's trade tariffs put further pressure on the local unit, according to forex traders.

At the interbank foreign exchange, the domestic currency opened at 85.53 against the greenback and traded in a wide range of 85.51-86.03 before settling at 85.94, lower by 54 paise from its previous close.

The rupee rose 15 paise to settle at 85.40 against the US dollar on Friday, a day after registering a gain of 7 paise on Thursday. -- PTI

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