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Rupee strengthens marginally against US dollar on Friday
Jun-06-2025

Indian rupee strengthened marginally against the US dollar on Friday after the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) decided to cut repo rate by 50 basis points (bps) to 5.50%. This is third time in a row that MPC cut its repo rate. Also, MPC stance changed from 'accommodative' to 'neutral'. Moreover, Cash Reserve Ratio (CRR) cut by 100 bps to 3% from 4%. Also, the RBI maintained its real GDP growth projections for FY26, expecting 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. Moreover, falling crude oil prices also supported rupee’s gain. However, gains remain capped as exchange data showed foreign institutional investors (FIIs) sold equities worth Rs 208.47 crore on a net basis on Thursday. Meanwhile, the focus is now on the U.S. Labour Department's closely watched monthly jobs report due later in the day.  

The partially convertible currency is currently trading at 85.72, stronger by 7 paise from its previous close of 85.79 on Thursday. The currency touched a high and low of 86.00 and 85.66 respectively.


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