MUMBAI: (Jul 1) Rupee appreciated 25 paise to close at 85.51 (provisional) against the US dollar on Tuesday, supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite.
Forex traders said the US dollar is trading at lowest levels since February 2022 as President Donald Trump’s growing influence on Federal Reserve policy revived fears over the central bank’s independence.
Moreover, Brent crude prices remained subdued, offering a buffer to India’s import bill and helping cool inflation. PTI
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