On May 27, the Indian rupee weakened against the US dollar, closing at 85.34 per dollar, down 25 paise from the previous day's close of 85.09. The rupee fell as much as 30 paise intraday, touching 85.4012, amid a rebound in the dollar index, higher oil prices, and a sell-off in domestic equities. The Sensex dropped 888.62 points and the Nifty slumped 272.65 points during the session. Earlier in the session, the rupee had opened at 85.1438 per dollar and traded nearly flat, with traders noting that the currency had held an upper hand amid continued vulnerability in the US dollar due to concerns over US trade and fiscal policies. However, increased dollar demand from importers and oil companies, along with a recovery in the dollar index, weighed on the rupee. On May 26, the rupee had strengthened, settling at 85.09 per dollar, supported by a weaker dollar and stronger Chinese yuan. The rupee had touched a two-week high of 84.79 during the session before paring gains due to dollar bids from state-run banks and oil companies. Meanwhile, the Japanese yen experienced volatility, initially strengthening to the lower 142 yen range against the dollar on May 27 amid speculation of a Bank of Japan rate hike, before weakening to the mid-143 yen range as yields on super-long Japanese government bonds fell following reports that the Finance Ministry may cut bond issuance. Tokyo stocks fluctuated over the two days. On May 26, the Nikkei 225 closed up 168.75 points at 37,329.22. On May 27, the index reversed early losses, reaching a midday low of 37,440.32, before finishing 192.58 points higher at 37,724.11, an advance of 0.51%. The Topix index rose 17.58 points, or 0.64%. Notably, 68% of stocks on the Tokyo Stock Exchange's prime market advanced, with gains led by export-oriented shares as the yen weakened and bond yields fell.