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Rupee depreciates against US dollar on Friday as volatility in domestic equities

30 May 2025 Evaluate

Indian rupee depreciated against the US dollar on Friday as volatility in domestic equities and recovering global crude prices pressured the local currency.  Traders overlooked NITI Aayog Vice-Chairman Suman Bery’s statement that the size of the Indian economy in the purchasing power parity (PPP) term is already $15 trillion, which is more than half the size of the US economy. Besides, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Amardeep Singh Bhatia highlighted that the foreign direct investments (FDI) in the country rose to a three-year high of $81 billion in 2024-25 and are expected to grow further. On the global front, Japanese yen strengthened against other major currencies in the Asian session on Friday, as Tokyo's core inflation data came in stronger than expected, increasing the chances of the Bank of Japan's (BoJ) 25 basis point rate hike in July.

Finally, the rupee ended at 85.55 (Provisional), depreciated by 07 paise from its previous close of 85.48 on Thursday. The currency touched a high and low of 85.64 and 85.25 respectively.

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