The Indian rupee that spiked up against the U.S. dollar in late afternoon deals on Wednesday erased its gains shortly thereafter.
The rupee that strengthened to a 7-week high of 54.175 against the greenback eased and is now trading at 54.555. The greenback-rupee pair ended yesterday's trading at 54.365.
The rupee climbed after Bloomberg-UTV reported the government may remove the withholding tax on bonds for foreign investors, without citing sources.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.