Business · India Bureau
Rupee surges 40 paise against dollar in strong close
The Indian rupee rebounded sharply on Tuesday, appreciating 40 paise to settle at 95.38 per U.S. dollar at the interbank foreign exchange market. The currency's gain reflected broader strength during the session, with the rupee trading in a range of 57 paise.
LSN India ·
The rupee opened at 95.53 against the dollar, but rapidly gained ground as trading progressed through the day. During intraday dealing, the currency reached a high of 94.96, demonstrating substantial appreciation against the greenback before consolidating at the closing level.
The currency's intraday low of 95.53 marked its weaker point during the session, establishing a trading range of 57 paise between the day's peak and trough. The rupee's resilience against the dollar was noted across the interbank market, where majority of transactions occurred.
The sharp appreciation comes amid continued volatility in foreign exchange markets as traders assess global economic conditions and their implications for emerging market currencies. The rupee's movement on Tuesday adds to recent gains and reflects investor sentiment regarding India's economic outlook.