Rupee falls 9 paise to 87.16 against US dollar in early trade
The Hindu
Rupee vs dollar updates on February 5, 2025
The rupee traded in a narrow range and depreciated 9 paise to 87.16 against the US dollar in early trade on Wednesday (February 5, 2025) , as global trade war has fuelled risk aversion among investors.
Forex traders said the rupee is trading with a negative bias over global trade war as market participants mulled the impact of tariffs being imposed by the United States and China.
However, any central bank intervention may support the rupee, they added.
At the interbank foreign exchange, the rupee opened at 87.13 then fell further to 87.16 against the American currency, registering a decline of 9 paise over its previous close.
On Tuesday, the rupee recovered 4 paise from its all-time low level to close at 87.07 against US dollar.
"For now the trade war seems to have slowed down as we await comments from Donald Trump on European exports and also on currencies. Meanwhile, the rupee remains range bound within a range of 86.90/87.25," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
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