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.