Mumbai, June 26 -- The Indian rupee (INR) appreciated by 0.4 per cent (m-o-m) vis-a-vis the US dollar and exhibited low volatility during May 2025, according to RBI's latest bulletin. Uncertainty surrounding the US trade and its fiscal policy contributed to a general strengthening of EME currencies vis-a-vis the US dollar. In real effective terms, the INR appreciated (m-o-m) by 0.3 per cent in May 2025 as India's inflation (on a m-o-m basis) was 0.9 percentage points higher than the weighted average inflation of its major trading partners, more than offsetting the depreciation in the nominal effective exchange rate (NEER). Meanwhile, the US dollar witnessed a depreciating trend, hitting a three-year low on June 12 following tariff uncerta...