A man calculates Indian currency notes in a market in Bengaluru, India, August 1, 2025. Reuters/Priyashu Singh | Photo Credit: Reuters
Rupees were recovered from low levels and on Wednesday (August 6, 2025), 15 money was closed at 87.73 (provisional) against the US dollar on Wednesday (August 6, 2025), supporting an unstable greenback and the Reserve Bank’s decision to keep the interest rate stable.
However, the increase in crude oil prices, negative domestic equity markets, and uncertainties around the surrounding tariffs around India received restricted benefits in the foreign unit.
In the interbank foreign currency, the domestic unit opened at 87.72 and went to the 87.73 (provisional) to settled at the 87.63–87.80 range during the day before settling, which ran from its previous bandh to 15 money.
The rupee re-considered its lowest intra-day level and ended at 87.88 with a loss of 22 money against the US dollar on Tuesday.
After a gradual interest rate cut, the Reserve Bank of India (RBI) on Wednesday decided to keep the policy rate unchanged at 5.5% and retained the neutral trend, amid concerns over tariff uncertainties.
Announcing the third biping monetary policy of the current financial year, RBI Governor Sanjay Malhotra said that the growth rate for FY 26 has been retained at 6.5 percent.
“The rupee was in the narrow range with the RBI, protecting one end and FPI, along with the oil companies, buying for its dollar outflow, before yesterday before the due date of secondary sanctions on Russia’s day after yesterday. [Friday]”Anil Kumar Bhansali, Treasury’s Chief and Executive Director, Finerex Treasury Advisors LLP said.
He said, “We look forward to the punishment tariff applied to India to buy oil from Russia as the rupee today has something positive in the brain through a narrow path through a narrow path. For tomorrow, we expect rupees in the range of 87.25/88.00,” he said.
Meanwhile, Brent crude prices rose 1.45% to $ 68.62 per barrel in futures trade.
The dollar index, which detects the strength of greenback against a basket of six currencies, increased from 0.01% to 98.79 after falling overnight.
In the domestic equity market, the 30-cheer BSE Sensex declined by 166.26 points to settle at 80,543.99, while the Nifty 75.35 points closed at 24,574.20.
According to exchange data, foreign institutional investors (FII) on Tuesday launched the price of 22.48 crores on a pure basis.
Published – 06 August, 2025 04:34 pm IST
