Mumbai: The Indian rupee sustained its recovery from lowest level for the second straight session on Wednesday. The Indian currency and appreciated against the US dollar supported by easing crude oil prices and measures by the Reserve Bank. However, rupee’s gain was capped by the volatile domestic equity markets, outflow of foreign funds and strengthening American currency amid concerns over the worldwide tariff war.
At the interbank foreign exchange, the Indian rupee opened at 86.44, touched a high of 86.36 and then traded at 86.52 against the US dollar during early deals, 27 paise higher from its previous close. On Tuesday, the Indian rupee appreciated 66 paise, logging the maximum single-day gain since March 3, 2023, to close at 86.79 against the US dollar.
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Meanwhile, the US dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.07 per cent higher at 107.91.Foreign institutional investors (FIIs) offloaded equities worth Rs 4,486.41 crore in the Indian capital markets on a net basis on Tuesday.
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