Rupee rebounds to 89 after hitting record lows
after close1 source ↓written by the desknot a recommendation
- against the US
- ₹89.96
- earlier this week
- ₹91
The Indian rupee strengthened to ₹89.96 against the US dollar, recovering from record lows near ₹91 earlier this week. This rebound is attributed to strong RBI intervention, which included aggressive dollar sales to stabilize the currency. Additionally, a softer US dollar and easing crude oil prices contributed to the rupee's recovery. Traders anticipate a more sustained recovery ahead.
Not investment advice. For informational purposes only.