Rupee sinks 23 paise to shut at 86.78 in opposition to U.S. greenback

A pointy decline within the home fairness markets additional pressured the rupee, in response to foreign exchange specialists.

However, robust FII inflows, together with an increase within the nation’s foreign exchange reserves prevented additional losses within the rupee, they stated.

At the interbank overseas change, the rupee opened at 86.75 in opposition to the dollar and traded within the vary of 87.67 to 86.85 earlier than settling at its five-month low of 86.78 (provisional), down 23 paise from its earlier shut of 86.55 on Friday (June 20, 2025).

The rupee had closed at 86.70 in opposition to the greenback on January 13.

“The rupee fell to 86.85 as a result of increased oil costs within the morning after which oil began to fall and gave importers a chance to purchase {dollars} for his or her near-term imports. The rupee rose to 86.67 however was not capable of rise any additional as oil demand was fairly excessive,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, stated.

“The rupee went again to 85.82, the place the Reserve Bank was a vendor and stored the rupee motion on maintain past immediately’s low,” he stated.

Brent crude, the worldwide oil benchmark, rose 0.08% to $77.07 per barrel in futures commerce.

The greenback index, which gauges the dollar’s power in opposition to a basket of six currencies, was buying and selling 0.60% increased at 99.29.

“The vary of rupee is predicted to be 86.50-86.90, relying on how oil costs behave,” Mr. Bhansali added.

In the home fairness market, the 30-share BSE Sensex tanked 511.38 factors to settle at 81,896.79 whereas Nifty dropped 140.50 factors to 24,971.90.

Foreign institutional buyers (FIIs) bought equities value ₹7,940.70 crore on a web foundation on Friday (June 20, 2025), in response to change information.

The newest weekly information launched by the Reserve Bank of India on Friday (June 20, 2025) confirmed India’s foreign exchange reserves rising $2.294 billion to $698.95 billion through the week ended June 13.