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Indian Rupee closes 13 paise lower at 86.58 against Dollar
The Morning Standard
|January 22, 2025
THE rupee pared initial gains and settled for the day lower by 13 paise to 86.58 against US dollar on Tuesday, tracking heavy sell-off in the domestic equity market and a recovery in the US dollar index.
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Forex traders said the dollar weakened from its 109 levels but clawed back to 108.66 as Donald Trump declared tariffs against Canada and Mexico in the near future but stopped short of declaring any tariffs against China.
Rupee is expected to see high volatility ahead of key events in the global and domestic economic landscape, they added.
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