Abstract:Rupee continued to fall for the sixth time in seven trading sessions on Wednesday (June 4, 2025) under robust demand for the US dollar. The Indian National Rupee slipped past 86 to the US dollar. The fall is attributable to the bullish bets made by traders for the USD. The day saw the rupee falling to 86.025 before recovering to end the day at 85.90. It was 0.4% lower than the previous day's close.
Rupee continued to fall for the sixth time in seven trading sessions on Wednesday (June 4, 2025) under robust demand for the US dollar. The Indian National Rupee slipped past 86 to the US dollar. The fall is attributable to the bullish bets made by traders for the USD. The day saw the rupee falling to 86.025 before recovering to end the day at 85.90. It was 0.4% lower than the previous day's close. Since scaling a high of 84.78 on Monday (June 2, 2025), the rupee slid for three consecutive days. The fall makes the rupee one of the worst-performing currencies in Asia over this period.
According to a currency trader, corporates are not relenting on their demand for the dollar. It seems that dollar/rupee shots are done for now across non-deliverable forward and on-spot markets.
If positive cues don't develop for the rupee, investors will continue to sell dollar/rupee pairs in the coming trading sessions. Notwithstanding the dollar index or other Asian peers performance, the rupee has been on a downward spree.
Traders foresee more losses for the rupee in the coming days. Forex advisors are requesting their investor clients to consider near-term dollar payables as a cautious move.
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