Indian Rupee Gains Slightly Against USD Amid Weak Dollar Trend
Rupee recovers marginally by 3 paise to settle at 87.30 per USD after Monday’s sharp decline.
BNH NETWORK
Mumbai - The Indian Rupee saw a marginal recovery on Tuesday, gaining 3 paise to settle at 87.30 against the US Dollar, following fresh dollar selling by bankers and exporters, Forex market dealers reported. This uptick comes after the rupee had tumbled 46 paise on Monday, reflecting volatility in the global currency markets.
Rupee Strengthens on Weak Dollar Sentiment
The rupee opened stronger on Tuesday morning, reflecting a weaker US dollar against other major world currencies. The intraday movement remained within a narrow range, hitting a high of 87.27 and a low of 87.33 during the session.
Key Highlights of Rupee’s Performance
- Rupee rises by 3 paise to close at 87.30 per USD.
- Monday’s sharp decline of 46 paise led to cautious market sentiment.
- Weaker US dollar globally supported the rupee’s modest rebound.
- Bankers and exporters selling dollars contributed to rupee appreciation.
Market Outlook
Analysts suggest that while the rupee's short-term movement remains dependent on global forex trends and crude oil prices, exporter activity and RBI interventions will continue to influence its trajectory.
