Rupee falls 28 paise to 95.64 against U.S. dollar in early trade
The Indian rupee depreciated against the U.S. dollar following a U.S. Trade Representative proposal to impose additional duties on 54 countries, including India, over forced labor concerns. The market decline was further exacerbated by geopolitical tensions and rising oil prices.
Why it matters
Trade disputes and geopolitical instability are creating significant volatility in emerging market currencies and domestic equity indices.
The rupee depreciated 28 paise to 95.64 against the U.S. dollar in early trade on Wednesday (June 3, 2026), after the U.S. Trade Representative proposed 12.5% additional duties on India and 53 other countries over forced labour import violations.
The report provides a factual account of market movements and government policy announcements without taking a stance.
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