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( As on 01/07/2025 16:03)

Rupee gains 25 paise to close at 85.51 against US Dollar

The rupee appreciated by 25 paise to close at 85.51 (provisional) against the US dollar on Tuesday, buoyed by a weaker greenback in global markets and positive sentiment in domestic equities amid increased risk appetite.

According to forex traders, the US dollar fell to its lowest level since February 2022, as concerns resurfaced over the Federal Reserve’s independence due to former President Donald Trump’s growing influence on monetary policy.

Additionally, subdued Brent crude prices provided relief to India’s import bill, supporting the rupee and easing inflationary pressures.