According to the exchange data, foreign institutional investors sold a price of 2,853.83 crores on a pure basis on June 3, 2025. File | Photo Credit: Reuters
The rupee depreciated for the second consecutive session and on Wednesday (June 4, 2025), on the US $ 85.90 (provisional), for the day for the day, dragged by the feelings of risk-intestines and the outflow of foreign funds.
Forex traders stated that the local unit is pressurizing geopolitical stress between Russia-Ukraine and high crude oil prices.
In addition, investors are also awaiting indications from the Reserve Bank’s monetary policy announcements, he said.
The Reserve Bank’s rate-setting panel launched its three-day discussion on monetary policy on Wednesday (June 4, 2025) and the result is to be declared on 6 June.
Experts believe that RBI may reduce the repo rate by 25 basis points (BPS) on Friday (May 31, 2025) and make another similar deduction in the next policy. SBI Research hopes that the central bank will go to the 50 BPS “jumbo” rate cut in June itself.
In the interbank foreign currency, the domestic unit opened at 85.69 and went between the high levels of 85.69 and 86.05 against the greenback during the day.
The unit closed the session against the dollar at 85.90 (provisional), losing 29 money from its previous bandh. On Tuesday (June 3, 2025), the rupee depreciated 22 money to settle at 85.61 against the US dollar.
The local unit registered the second consecutive session of the decline and lost 51 money on greenback.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading 0.12% less at 99.11.
Global Oil Benchmark Brent crude, futures trading 0.41% to $ 65.90 per barrel.
In the domestic equity market, the 30-cheer BSE Sensx increased by 260.74 points or 0.32%at 80,998.25, while the Nifty declined by 77.70 points or 0.32%, at 24,620.20.
According to exchange data, foreign institutional investors (FII) sold equity of 2,853.83 crores on a pure basis on Tuesday (June 3, 2025).
On the domestic macroeconomic front, the growth of Indian services became widely stabilized in May and a healthy demand status, the new customer victory and less staffing capacity.
The seasonally adjusted HSBC India Services PMI Business Activity Index was at 58.8 in May, indicating a more sharp rate of expansion from 58.7 in April 58.7.
Published – June 04, 2025 04:30 pm IST
