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Rupee depreciates on Wednesday amid recovery in US Dollar index

16 Jul 2025 Evaluate

Indian rupee depreciated against the US dollar on Wednesday tracking a strengthening American currency against major crosses overseas amid uncertainties over the India-U.S. trade pact. Investors took note of report that commerce ministry in its latest data has showed that India's merchandise exports remained almost flat at $35.14 billion in June 2025 as against $35.16 billion same month last year. Imports declined 3.71 per cent to $53.92 billion in June 2025 as compared to $56 billion in June 2024. The country’s trade deficit narrowed to a four-month low of $18.78 billion in June. On the global front, British pound strengthened against other major currencies in the early European session on Wednesday, after U.K. consumer price inflation accelerated unexpectedly in June to the highest since January 2024 largely due to higher transport and food costs but the Bank of England is expected to loosen its policy further, given mounting concerns over economic conditions.

Finally, the rupee ended at 85.95 (Provisional), depreciated by 18 paise from its previous close of 85.77 on Tuesday. The currency touched a high and low of 86.05 and 85.74 respectively.

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