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The rupee depreciated 31 paise to adjacent astatine 95.67 (provisional) against the U.S. dollar connected Wednesday (June 3, 2026), aft the U.S. Trade Representative projected a 12.5% further duties connected Indian imports, citing labour violations. Forex traders said beardown dollar demand, surging crude lipid prices, geopolitical tensions, and relentless overseas superior outflows dented capitalist sentiment further.
At the interbank overseas speech market, the rupee opened astatine 95.43 against the U.S. dollar, past touched an intraday debased of 95.80 and yet ended the league astatine 95.67 (provisional), down 31 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.
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. The U.S. Trade Representative has projected 12.5% further duties connected 54 countries, including India, for failing to prohibit the import of goods produced with forced labour.
Meanwhile, the authorities said India is engaged with the U.S. connected the Section 301 investigations implicit concerns related to forced labour and excess concern capacity. The state is besides "parallelly" engaged with the U.S. for finalisation of an interim commercialized agreement, a model for which was announced done a associated connection connected February 7.
The Office of the United States Trade Representative (USTR) launched 2 abstracted Section 301 investigations connected March 11 and 12, 2026, covering 60 economies implicit concerns related to forced labour and excess concern capacity. Meanwhile, marketplace participants are present turning their attraction to the Monetary Policy Committee of the Reserve Bank of India (RBI MPC) complaint determination connected June 5, arsenic inflation, maturation and the rupee are nether focus.
The RBI Monetary Policy Committee gathering is scheduled for June 3-5. The six-member MPC, headed by RBI Governor Sanjay Malhotra, volition denote its determination connected June 5.
Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading astatine 99.34, up 0.13%. Brent crude, the planetary lipid benchmark, was trading higher by 2.76% astatine $98.65 per tube successful futures trade.
On the home equity marketplace front, Sensex dropped 303.67 points to settee astatine 74,346.17, portion the Nifty was down 77.95 points to 23,405.60. Foreign organization investors offloaded equities worthy ₹8,362.92 crore connected a nett ground connected Tuesday (June 2, 2026), according to speech data.
