Indian rupee depreciated against the US dollar on Monday amid a rise in global crude oil prices and a strengthening greenback. Traders took a note of the report that wholesale price inflation (WPI) declined to (-) 0.13 per cent in June as fuel saw deflation, along with easing in manufactured product costs. WPI-based inflation was 0.39 per cent in May. It was 3.43 per cent in June last year. Negative rate of inflation in June, 2025 is primarily due to decrease in prices of mineral oils, manufacture of basic metals, crude petroleum & natural gas etc. On the global front, British pound weakened against other major currencies in the European session on Monday, as traders speculated that the Bank of England (BoE) is likely to reduce its interest rate in the next month's monetary policy decision.
Finally, the rupee ended at 85.98 (Provisional), depreciated by 18 paise from its previous close of 85.80 on Friday. The currency touched a high and low of 86.05 and 85.92 respectively.
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