The Indian Rupee fell 10 paise to close at 94.95 (provisional) against the U.S. dollar as the market opened to a new month. According to analysts, the strength of the American currency in the overseas market and Israel-Lebanon tensions also deteriorated global risk sentiments.
At the interbank foreign exchange market, the rupee opened at 94.93 against the U.S. dollar, then touched an intraday high of 94.73 and a low of 95.03 during the day. At the end of Monday’s (June 01, 2026) trading session, the rupee was quoted at 94.95 (provisional), down 10 paise from its previous close.
On Friday, the domestic unit surged 73 paise to close at 94.85 against the U.S. dollar on suspected interventions by the RBI.
According to government data released on Monday, gross GST collections rose 3.2 per cent to over Rs 1.94 lakh crore in May on higher supplies of goods and services, as well as collection from imports.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.04, up 0.10%.
The Reserve Bank of India’s Monetary Policy Committee (MPC) is set to meet from June 3 to June 5 against the backdrop of rising geopolitical tensions in West Asia, volatile global energy markets, and a weakening rupee. As per reports, it is expected to keep the repo rate unchanged at 5.25%.
In 2025, the RBI cut the repo rate by a cumulative 125 basis points, bringing it down to 5.25%, supported by easing inflationary pressures and resilient domestic economic fundamentals
Concerns over economic growth, inflation, and currency stability have complicated the policy outlook, forcing policymakers to strike a balance between supporting growth and maintaining macroeconomic stability.
Join our whatsapp group for Latest updates
Click Here for Chhattisgarh News
Click Here for Entertainment News