Rupee closes 3 paise lower at 85.57 amid weak equities
Friday, 16 May 2025
The Indian rupee weakened slightly to 85.57 against the US dollar due to negative equity market sentiment, rising crude oil prices, and a widening trade deficit, despite strong foreign capital inflows. India's trade deficit widened to a five-month high in April, with imports surging. However, foreign exchange reserves rose, driven by a jump in gold assets.
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