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Rupee slumps 81 paise to 85.58 against US dollar
Millennium Post Delhi
|New Delhi 09May2025
Besides, heightened geopolitical risks, positive US dollar index & rise in crude oil prices also weighed on rupee
MUMBAI: Rupee depreciated sharply by 81 paise to close at 85.58 against the US dollar on Thursday, weighed down by heightened geopolitical tensions between India and Pakistan.
Forex traders said investors resorted to risk aversion in the domestic markets after the Pakistani military attempted a number of military targets in northern and western India using drones and missiles that were neutralised by Indian defence system.
Besides, heightened geopolitical risks, positive US dollar index and a rise in crude oil prices also weighed on the rupee.
At the interbank foreign exchange, the domestic unit opened at 84.61 and moved between an intra-day high of 84.52 and a low of 85.77 against the greenback.
The unit ended the session sharply lower at 85.58, registering a fall of 81 paise over its previous closing level.
Denne historien er fra New Delhi 09May2025-utgaven av Millennium Post Delhi.
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