The rupee fell 8 paise to close at 72.99 (provisional) against the US dollar on Friday, with forex market participants weighing RBI policy measures aimed at mitigating the COVID-19 impact on the economy. Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 % but maintained an accommodative stance amid the second COVID wave. It finally ended at 72.99, registering a fall of 8 paise over its previous closing. On Thursday, the rupee had settled at 72.91 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.01 % to 90.51.

Source: The Hindu June 04, 2021 10:30 UTC