6 days ago
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The rupee depreciated 28 paise to 95.64 against the U.S. dollar successful aboriginal commercialized connected Wednesday (June 3, 2026), aft the U.S. Trade Representative projected 12.5% further duties connected India and 53 different countries implicit forced labour import violations.
Forex traders said the U.S. Trade Representative’s action, amid caller hostilities and stalled talks betwixt the U.S. and Iran, weighed connected capitalist sentiment.
At the interbank overseas speech market, the rupee opened astatine 95.43 against the U.S. dollar, past touched 95.64 successful aboriginal trade, down 28 paise from its erstwhile close.
On Tuesday (June 2, 2026), the rupee depreciated 17 paise to adjacent astatine 95.36 against the U.S. dollar.
The U.S. Trade Representative has proposed imposing 12.5% further duties connected 54 countries, including India, for failing to prohibit the import of goods produced with forced labour.
The enactment follows investigations launched against 60 countries implicit what the USTR described arsenic their nonaccomplishment to enforce and efficaciously enforce bans connected imports made with forced labour.
India has denied the allegations nether the forced labour clause and asked the U.S. to extremity the investigations, saying specified matters should beryllium addressed wrong the model of ongoing bilateral commercialized negotiations.
The USTR connection said 54 countries, including India, China, Japan, Brazil, Australia, the U.K., and Saudi Arabia, person failed to enforce and efficaciously enforce a prohibition connected the importation of goods produced with forced labour.
Meanwhile, the dollar index, which gauges the greenback’s spot against a handbasket of six currencies, was trading astatine 99.24, up 0.03%, arsenic safe-haven buying syndrome returned but kept the scale good wrong a tiny scope of 99 to 99.25.
Brent crude, the planetary lipid benchmark, was trading higher by 0.82% astatine $96.79 per tube successful futures trade.
On the home equity marketplace front, Sensex tanked 699.74 points to 73,959.48 successful aboriginal trade, portion the Nifty dropped 177.40 points to 23,302.50.
Investors are besides monitoring developments successful West Asia and awaiting cardinal economical information from the U.S., which could acceptable the way for caller clues from the U.S. Federal Reserve connected the involvement complaint path, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.
Mr. Bhansali further added that marketplace participants are present turning their attraction to the RBI MPC complaint determination connected June 5, arsenic inflation, maturation and the rupee are nether focus.
Foreign organization investors offloaded equities worthy ₹8,362.92 crore connected a nett ground connected Tuesday (June 2, 2026), according to speech data.
