Rupee falls 36 paise to close at 85.95 against US dollar

Thu, 22 May 2025

21:22

Rupee depreciated 36 paise to close at 85.95 against the US dollar on Thursday, on dollar demand from importers and foreign banks as well as surge in crude oil prices.

Forex traders said surging US bond yields are rattling global investors.

Moreover, the narrowing yield differential between India and the US, is making Indian assets less attractive.

Besides, elevated crude oil prices amid rising geopolitical tensions in the Middle East, further dented investor sentiments.

At the interbank foreign exchange market, the rupee opened flat at 85.59 then touched an intra-day high of 85.58 anda low of 86.11 against the US dollar.

The domestic unit settled for the day at 85.95, lower by 36 per cent over its previous close. -- PTI

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