The Indian Rupee closed the first half of 2025 stable after two consecutive days of gains on Monday, in spite of weaker international trends such as a drop in the dollar index and the price of crude oil. The home currency ended 28 paise down in Bloomberg data at 85.76 per US dollar.
This slight loss follows the rupee posting its best weekly performance since January of 2023, owing to a sharp decline in crude oil price amid stiffening of geopolitical rapprochement between Iran and Israel. The strength of this currency, however, seemed to have been short-lived.
Regarding performances every month and half-yearly, the rupee lost its value by about 0.21 per cent in the month of June and lost by 0.18 per cent in the first six months of the calendar year 2025. The mid-size losses are attributable to global uncertainty and the instability of the domestic market despite the flow of capital into India.
In the meantime, the US dollar index, which measures the performance of the greenback in trade against a basket of six key currencies in the world, was lower by 0.18% at 97.22. The dollar has weakened due to heightened caution on the part of investors in anticipation of the July 9 deadline by the US to impose a reciprocal tariff, which once again shifts the trade deals back to the spotlight, endangering the dollar.
The prices of oil fell even further in the commodities market as it recorded one of the sharpest weekly falls in more than two years. Brent crude oil futures had declined by 0.15% to the level of $67.67 per barrel, and WTI crude oil had slightly risen by 0.29%, to become $65.33 per barrel as at 3:40 PM IST. The upcoming output developments by OPEC+ are already on the radar of analysts, who can expect to see adjustments to the current swings.
Currency markets will continue to feel jittery with everyone looking forward to the second half of the year, especially with global and local factors coming into play.
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