Indian rupee gains 20 paise to 94.20 against US dollar
Business
The Indian rupee made a comeback on Friday, rising 20 paise to 94.20 against the US dollar after hitting a record low earlier.
This uptick comes as hopes grow for an India-US trade deal, and lower global oil prices and better foreign investment flows have given the currency a boost.
Trade talks progress, markets see outflows
Fresh progress in India-US trade talks is lifting spirits. Foreign Secretary Vikram Misri shared that real headway was made after a recent meeting between Prime Minister Modi and President Trump at the G-7 summit.
Meanwhile, cheaper crude oil has helped emerging market currencies, even as the Sensex dropped sharply and foreign investors offloaded equities worth ₹1,025.20 crore from Indian stocks.