New Delhi, July 17 (H.S.) : The rupee closed at 86.08 against the dollar today, reflecting a decline of 13 paise due to global market uncertainties, a strengthening dollar index, and selling by foreign institutional investors in the stock market. Initially, the rupee opened strongly at 85.90 and briefly strengthened to 85.79. However, the situation shifted as foreign investors began selling off, causing a surge in dollar demand.

Consequently, the rupee fell to 86.10 before closing at 86.08, marking a total depreciation of 13 paise. Market analysts attribute this decline to the influence of the dollar index and the withdrawal of funds by foreign institutional investors, which is tied to the effects of U.S. tariff policies and broader turbulence in international markets.

Ravi Chander Khurana, CEO of Khurana Securities and Financial Services, noted that foreign investors are withdrawing funds to secure their investments, intensifying the withdrawal of dollars from markets, including India, and contributing to the pressure on the Indian currency. Overall, the correlation between the global economic environment and local currency movement is evident, with rising dollar demand weakening the rupee amid increasing foreign sell-off activity in the markets.

Hindusthan Samachar / Jun Sarkar