Rupee Falls 2ps To 85.25/$

Mumbai: The rupee consolidated in a narrow range and settled for the day 2paise lower at 85.25 against the US dollar on Tuesday, on recovery in the US dollar and geopolitical tensions between India and Pakistan.

However, positive domestic markets and a decline in crude oil prices cushioned the downside for the domestic unit. At the interbank foreign exchange, the domestic unit opened at 85.06 and moved between the intra-day high of 84.96 and the low of 85.40 against the greenback. The unit ended the session at 85.25, registering a fall of 2paise over its previous closing level.

On Monday, the rupee appreciated 18paise to close at 85.23 against the US dollar. “We expect the rupee to remain under pressure amid uncertainty over trade tariffs and the ongoing geopolitical tensions between India and Pakistan,” said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.

Meanwhile, nearly 50 public parks and gardens located in vulnerable areas of Kashmir valley have been shut as a precautionary measure in the wake of the Pahalgam terror attack, officials said on Tuesday. Gates have been closed at 48 of the 87 public parks and gardens in Kashmir in view of the threat perception to tourists, they said.