The rupee remained within a narrow range on Wednesday, ending the day 2 paise lower at 85.52 (provisional) against the US dollar. While positive domestic markets provided some support, uncertainty surrounding trade tariffs offset the gains.
Forex traders noted that the Indian rupee started the fiscal year 2025-26 on a flat note, weighed down by concerns over Trump’s reciprocal tariffs and foreign fund outflows. Additionally, rising crude oil prices added pressure on the currency.
However, a weak US dollar and strong domestic markets helped limit the rupee's decline, according to forex dealers.