Rupee records largest single-day gain in seven years
after close1 source ↓written by the desknot a recommendation
- The rupee surged
- 124 paise
- against the dollar
- ₹90.27
- over two days
- 165 paise
- recent low
- ₹91.99
- for the quarter
- ₹89-91.50
The rupee surged 124 paise to ₹90.27 against the dollar, marking its strongest single-day gain since late 2018. This rally was fueled by reports of a trade agreement between India and the US, lifting market sentiment despite limited details. The currency has strengthened 165 paise over two days, rebounding from a recent low of ₹91.99.
Market participants noted that the positive sentiment led to unwinding of speculative bets against the rupee, with expectations of a trading range between ₹89-91.50 for the quarter.
Not investment advice. For informational purposes only.