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Indian Rupee Slips Past 86 Against US Dollar Amid Foreign Fund Outflows

Updated: June 04, 2025 12:29

Image Source: Matrhubhumi
The Indian Rupee (INR) weakened past 86.00 against the US Dollar, marking a 0.48% decline on the day, as foreign institutional investors (FIIs) continued to offload equities, impacting market sentiment. Despite support from domestic stock market gains and softer crude oil prices, the rupee struggled to maintain stability.
 
Rupee Falls to 85.86 Against USD:
  • The rupee opened at 85.69 and slipped further to 85.86 in early trade, reflecting persistent selling pressure.
  • On Tuesday, the rupee had already dropped 22 paise, settling at 85.61 against the dollar.
Foreign Fund Outflows & RBI Intervention:
  • FIIs sold equities worth ₹2,853.83 crore on Tuesday, contributing to the rupee’s decline.
  • The Reserve Bank of India (RBI) has been intervening, selling dollars at 85.70-75 levels to stabilize the currency.
Global Market Trends & Oil Prices:
  • The Dollar Index fell 0.05% to 99.18, indicating mild weakness in the greenback.
  • Brent crude prices declined 0.32% to $65.42 per barrel, offering some relief on inflation concerns.
RBI Policy Outlook & Rate Cut Speculation:
  • The RBI’s Monetary Policy Committee (MPC) began its three-day deliberations, with analysts expecting a 25 basis points repo rate cut to 5.75%.
  • A rate cut could support economic growth, but may add pressure on the rupee in the short term.
Stock Market Reaction:
The BSE Sensex climbed 230.17 points to 80,967.68, while the Nifty rose 70.25 points to 24,612.75, reflecting positive domestic equity trends.
 
The rupee’s decline past 86.00 underscores global economic uncertainties, with foreign fund outflows and RBI policy decisions shaping its trajectory.
 
Source: The Hindu Business Line, Rediff Money, and MSN.

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