The rupee depreciated 7 paise to close at 85.77 (provisional) against the U.S. dollar on Friday (July 10, 2025), on weak home markets and risk-off sentiments amid commerce tariff uncertainty.
Forex merchants mentioned world market sentiments had been dented as U.S. President Donald Trump imposed 35% tariffs on Canadian items.
At the interbank overseas change, the rupee opened at 85.76 against the U.S. dollar and touched an intraday low of 85.91 throughout the day. The native unit lastly settled for the day at 85.77 (provisional), down 7 paise from its earlier close.
On Thursday (July 10, 2025), the rupee pared preliminary beneficial properties and settled for the day greater by 3 paise at 85.70 against the U.S. dollar.
“We expect the rupee to weaken as the trade war continues to dent global risk sentiments. Uncertainty over trade tariffs and a higher U.S. dollar index may also pressurise the rupee. However, a weak tone in crude oil prices may support the rupee at lower levels,” mentioned Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan.
Choudhary additional added that USD-INR spot worth is predicted to commerce in a variety of 85.55 to 86.25.
Forex merchants mentioned the rupee traded in a risky however slender vary as market contributors stayed on the sidelines, ready for readability on the U.S.-India interim commerce deal.
Meanwhile, Brent crude, the worldwide oil benchmark, rose 0.34% to $68.87 per barrel in futures commerce.
The dollar index, which gauges the buck’s energy against a basket of six currencies, rose 0.13% to 97.77.
On the home fairness market entrance, the Sensex dropped 689.81 factors or 0.83%, to settle at 82,500.47, whereas the Nifty misplaced 205.40 factors or 0.81%, to close at 25,149.85.
Foreign institutional traders (FIIs) bought equities price Rs 221.06 crore on a internet foundation on Thursday (July 10, 2025), in accordance to change knowledge.
Meanwhile, India is attempting to negotiate and finalise a commerce settlement with the U.S., Special Secretary within the Department of Commerce Rajesh Agrawal mentioned on Thursday (July 10, 2025).
Agrawal can be the chief negotiator of the proposed India-U.S. bilateral commerce settlement.
The purpose is to conclude the primary part of this pact by fall (September-October) of this yr. Before that, the 2 nations are trying to finalise an interim commerce settlement.
An Indian Commerce Ministry workforce will quickly go to Washington for an additional spherical of talks on the proposed commerce settlement with the U.S. to iron out variations in sectors like agriculture and cars, a authorities official mentioned on Thursday (July 10, 2025).
“We are not differentiating between an interim or the first phase of the bilateral trade agreement. We are negotiating a complete deal. Whatever will be finished, we can package it as an interim deal and for the rest, talks will continue,” the official mentioned.
