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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.