The rupee fell 9 paise to close at 85.68 against the US dollar on July 2, 2025. Weak domestic equity markets and increased crude oil prices weighed in on the sentiment. Also, the slight upward movement in the US dollar led to the rupee’s depreciation today. The dollar index, which indicates the greenback’s strength against a basket comprising six currencies, grew 0.14% to 96.95. Interestingly, the rupee rose 17 paise on July 1, 2025, to close at 85.59 against USD. Market players are eagerly awaiting the conclusion of the trade deal between the US and India, which, according to market reports, has reached the final stage. The deal will likely dictate the rupee movement in the near term.