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Rupee depreciates on Wednesday
Jul-30-2025

Indian rupee depreciated against the US dollar on Wednesday on uncertainty over an India-U.S. trade deal after U.S. President Donald Trump hinted at tariff rates of around 20-25% ahead of the deadline of August 1, 2025. Traders overlooked International Monetary Fund’s statement that India is projected to grow at 6.4 per cent in fiscal year 2025 and 2026, and the country's stable growth is driven by a reform momentum supporting robust consumption growth and a push for public investment. On the global front, ringgit reversed its morning gains to close slightly lower against the US dollar on Wednesday, as traders turned cautious ahead of the United States (US) Federal Reserve's (Fed) interest rate decision, amid uncertainty over a potential cut.

Finally, the rupee ended at 87.77 (Provisional), depreciated by 86 paise from its previous close of 86.91 on Tuesday. The currency touched a high and low of 87.77 and 85.05 respectively.

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