Rupee rises against dollar but falls against euro, pound amid trade deals

The rupee has been caught in a swirl of trade negotiations between the US and other major economies such as the UK and China, even as the US Fed considers rate cuts later this year

While the rupee has held its ground against the US dollar in the current calendar year with a 0.07 per cent appreciation so far, it has depreciated significantly against the euro and the pound. The local currency has depreciated by 7.01 per cent, and 5.70 per cent against the euro and pound, respectively, since January 1, 2025, as both those units strengthened significantly against the greenback in the same period.

 

The euro has appreciated by 8.18 per cent against the dollar in the current calendar year so far, while  the pound strengthened by 6.32 per cent in the same period