Rupee plunges 30 paise to 87.25 against U.S. dollar in early trade

Rupee weakens to 87.25 against the dollar amid foreign fund outflows and volatile equity markets.

The rupee saw a steep plunge of 30 paise to 87.25 against the U.S. dollar in early trade on Monday (March 10, 2025) as the American currency started recovering from six-month low level while trade-related uncertainties weighed on investor sentiment.

A subdued domestic equity market and uninterrupted outflow of foreign funds also put pressure on the local unit, though it found some support due to easing crude oil prices, forex traders said.

At the interbank foreign exchange, the rupee opened weak at 87.24 amid intense volatility and touched the low of 87.34 before trading at 87.25 against the greenback in early deals, down 30 paise from its previous closing level.

On Friday, the rupee appreciated 17 paise to close at 86.95 against the U.S. dollar.

The rupee had settled 6 paise lower at 87.12 against the U.S. dollar on Thursday, snapping its three-session rally.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.03% at 103.84.

Brent crude, the global oil benchmark, fell 0.58% to $69.95 per barrel in futures trade.