New Delhi, July 11 (HS): The Indian currency fell against the US dollar today, closing at 85.79, a decline of 15 paise. Previously, it closed at 85.64. The rupee began trading weakly, starting at 85.76 and dipping to 85.91 during the day due to increased dollar demand. It later recovered to 85.78 before closing at 85.79. Despite this decline against the dollar, the rupee strengthened against other major currencies, reaching 116.25 against the British pound (GBP) and 100.29 against the euro, up by 30 and 18 paise, respectively.

Market experts attribute the cautious trading to weak global signals and uncertainty stemming from US tariff policies, particularly following increased tariffs on Brazil and Canada. This uncertainty has heightened demand for dollars in the interbank market.

Ravi Chander Khurana, CEO of Khurana Securities, indicated that the global trade tensions have intensified selling pressure, suggesting a potential further decline for the rupee against the dollar in the coming days.

Hindusthan Samachar / Jun Sarkar