Rupee Rebounds as India-US Trade Hopes Soar

The rupee appreciated marginally, closing at 88.72 against the dollar amidst falling global crude oil prices and a weaker greenback. Despite domestic equity losses and foreign capital outflows, optimism around ongoing India-US trade talks buoyed sentiment. The rupee previously closed at a historic low of 88.76.

The Indian rupee slightly recovered, closing at 88.72 against the US dollar amid a drop in global crude oil prices and a weakening greenback.

Persistent foreign capital outflows and a risk-averse domestic equity market limited the rupee's rise, but hopes for successful India-US trade discussions offered support, forex traders reported.

Earlier, the rupee had reached a record low of 88.76, but interventions by the Reserve Bank of India helped stabilize it, with expectations to remain between 88.50 and 89.00 amid ongoing trade talks.

(With inputs from agencies.)