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Rupee settles higher against greenback
Jun-06-2025

Indian rupee ended higher against dollar on Friday after the Reserve Bank cut the repo rate by a higher-than-expected 50 basis points to prop up growth. Also, the RBI cut inflation projections for the current fiscal to 3.7 per cent from the earlier estimate of 4 per cent, as it expects core inflation to remain benign with the easing of international commodity prices. Traders also took support as Commerce and Industry Minister Piyush Goyal has held three meetings within a short span of 35 days with the European Commissioner for Trade Maros Sefcovic with an aim to give an impetus to the reposed negotiations for a free trade agreement (FTA). Moreover, a surge in the domestic markets supported the rupee. On the global front, the dollar was headed for a weekly loss on Friday, undermined by signs of fragility in the U.S. economy and little progress on trade negotiations between Washington and its partners, ahead of a critical jobs report. 

Finally, the rupee ended at 85.68 (Provisional), appreciated by 11 paise from its previous close of 85.79 on Thursday. The currency touched a high and low of 86.00 and 85.63 respectively.


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