Indian rupee gains on optimism over India-US trade deal
The Indian rupee inched up by eight paise on Wednesday, closing at 88.21 against the US dollar.
This small boost came from growing optimism about a possible India-US trade deal and a dip in crude oil prices.
Throughout the day, the rupee moved between 88.15 and 88.35 in the interbank market.
Sensex crosses 85,000 mark
Indian stock markets had a strong day too—Sensex jumped 369 points to finish at 84,997, and Nifty rose by nearly 118 points to close above 26,000.
Foreign investors purchased over ₹10,000 crore in equities on Tuesday, according to exchange data.
Analyst Anuj Choudhary noted that while things look positive for now with steady markets and cheaper oil, upcoming events like the US Fed meeting and month-end dollar demand could slow further gains for the rupee.