The rupee appreciated 16 money for settling at 85.39 against the US dollar on June 2, 2025. File | Photo Credit: Reuters
The rupee appreciated 16 money for settling at 85.39 (provisional) against the US dollar on Monday (June 2, 2025), supported by a weak American currency and on the expectation of a major interest rate and decrease by the Reserve Bank.
However, a sharp profit in the local unit was stopped due to unstable equity markets, outflow of foreign funds and high crude oil prices, Forex traders said.
RBI’s Monetary Policy Committee (MPC) will start its next dual-masical policy on 4 June and the result is to be declared on 6 June.
In the interbank Forex, the domestic unit opened at 85.55 and went between the high levels of 85.30 and 85.55 against the greenback during the day. The unit finished the session at 85.39 (provisional), registering a profit of 16 money from its previous closing level.
On Friday (May 30, 2025), 7 money decreased at 85.55 against the rupee at 85.55.
Research analyst Anuj Chaudhary of Mirre Asset Sharekhan Chaudhary said that the increase in crude oil prices is at a higher level at Rs.
Global oil benchmark Brent crude climbed $ 64.94 per barrel in futures trade.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading 0.55% less at 98.71.
According to analysts, US Dollar fell on the US dollar trade uncertainty after US President Donald Trump declared double duties on steel and aluminum imports.
Meanwhile, a monthly survey released on Monday (June 2, 2025) showed that the growth of India’s manufacturing sector fell at a three-month low in May, restricted by inflation pressure, soft demand and increased geopolitical conditions.
The seasonally adjusted HSBC India Manufacturing Purchase Manager Index (PMI) fell from 58.2 in April to 57.6 in May, highlighting the weakest improvement in operating conditions from February.
In the domestic equity market, the 30-cheer BSE Sensex fell 77.26 points or 0.09%to close at 81,373.75, while Nifty declined by 34.10 points or 0.14%, 24,716.60.
According to exchange data, foreign institutional investors (FII) on Friday sold equity worth Rs 6,449.74 crore on a pure basis.
The latest government data released on Friday (May 30, 2025) revealed that the Indian economy was expanded at a faster speed in the last quarter of the fiscal of 2024–25.
The GDP growth rate of 7.4% in the January-March period of FY 25 reflected a strong cyclical rebound that helped in increasing private consumption and strong growth in manufacturing and manufacturing.
The government also managed to meet its fiscal deficit target of 4.8% of GDP for 2024–25, according to provisional data released by the controller of accounts on Friday (May 30, 2025).
Apart from this, the GDP of the country remained above the mark of 2 lakh crores for the second consecutive month, increased by 16.4% to more than ₹ 2.01 lakh crore in May. Goods and Services Tax (GST) collection touched a record high of ₹ 2.37 lakh crore in April.
According to the weekly data of the Reserve Bank of India released on Friday (May 30, 2025), India’s foreign exchange reserves increased by $ 6.992 billion during the week ended May 23, which increased to $ 692.721 billion during the week. The reserve had come down from $ 4.888 billion to $ 685.729 billion.
Published – June 02, 2025 04:50 pm IST
