New Delhi, June 9, 2025 – The News Drill Bureau
The Indian rupee traded in a narrow range against the U.S. dollar in early trade on Monday, amid mixed global cues and subdued domestic equity market activity. The local unit opened marginally stronger at 83.13 per dollar compared to the previous close of 83.16 but hovered within a tight band in the initial hours.
Forex traders attributed the cautious movement to limited foreign inflows and lack of fresh domestic triggers. The rupee’s direction remains closely tied to the U.S. Federal Reserve’s interest rate outlook and the movement in crude oil prices globally.
“The rupee is showing limited volatility today as traders await key macroeconomic data from both India and the U.S. later this week. Expectations around inflation and industrial output figures are keeping markets on edge,” said a Mumbai-based currency analyst.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six major currencies, held steady near the 104.8 mark. Brent crude futures also remained firm, trading above $81 per barrel, adding pressure on emerging market currencies, including the rupee.
Market participants are also monitoring global risk sentiment following mixed signals from Wall Street and muted performance in Asian equities. Any significant foreign portfolio investment (FPI) flows or interventions by the Reserve Bank of India (RBI) could influence intraday rupee moves.
Analysts expect the rupee to trade in the range of 83.05 to 83.25 in the near term, barring any major geopolitical or economic developments.
