Rupee depreciates against US dollar on Tuesday
The Indian rupee weakened against the US dollar on Tuesday amid growing uncertainty and a cautious recalibration of risk appetite. Investors overlooked the report that India’s Services Purchasing Managers' Index (PMI) for April 2025, compiled by S&P Global, rose to 58.7, an increase from 58.5 recorded in March, signalling a slight growth in the country’s services sector. The India Composite Purchasing Managers' Index (PMI) rose to 59.7, up from 59.5 in March. On the global front, U.S. dollar experienced a modest decline against the Vietnamese dong on Tuesday morning, following a drop observed on Monday. This movement reflects the ongoing volatility in the global market, particularly concerning U.S.-China trade negotiations.
The partially convertible currency is currently trading at 84.51, weaker by 21 paise from its previous close of 84.30 on Monday. The currency touched a high and low of 84.52 and 84.26 respectively.
