Rupee (June 6, 2025) on Friday-bound trading, the monetary policy results of the Reserve Bank in the morning session.
Forex traders said that the participants of the market are waiting for the result of the monetary policy meeting of the Reserve Bank of India for further signals.
RBI’s rate-setting panel started its three-day deliberations on monetary policy on Wednesday, and the result is to be announced in a short time.
In the Interbank Forex, the domestic unit saw heavy instability. It opened at 85.91, declining 12 money in its previous bandh. But soon the damage occurred and saw an early high level of 85.77 against greenback.
On Thursday, the rupee snatched the streak of its two -day necklace and shut down 8 money high at 85.79 against the US dollar.
Treasury’s chief and executive director Finerex Treasury Advisors LLP Anil Kumar Bhansali said, “FPIS is not clear in its flow in the country.
“We have a monetary policy in which RBI is expected to cut the rate of 25 BPS. Narrow interest rates are assisting in the weakening process of the rupee. A step between 85.50 and 86.25 for the day is expected with a close eye on RBI,” market participants are cutting another interest rate from Reserve Bank (RBI).
He said that the future trajectory of the rupee will largely depend on the upcoming policy stance of the RBI and introduces any liquidity measures.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, was trading more than 0.03 percent at 98.77.
Global Oil Benchmark Brent crude fell by 0.26 percent to USD 65.17 per barrel.
On the Domestic Equity Market front, the 30-Share Benchmark Index Sensex was trading up to 227.18 points, or 0.28 percent below 81,214.86, while Nifty was cited at 65.30 points or 0.26 percent less at 24,685.60.
According to exchange data, foreign institutional investors (FIIs) on Thursday sold equity worth 208.47 crores on a pure basis.
Published – 06 June, 2025 10:07 am IST
