Rupee bounces back to 87.95 against US dollar
The rupee bounced back to 87.95 against the US dollar on Tuesday, gaining 14 paise after hitting an all-time low of 88.38 on Friday.
This uptick came alongside a strong showing in Indian stock markets—Sensex jumped over 366 points and Nifty rose by more than 100.
A stronger rupee can help keep prices in check
A stronger rupee can help keep prices in check and may reassure investors that India's economy is holding steady, even after recent worries about US tariffs and big foreign investors pulling out ₹2,170 crore just a day earlier.
Weaker US economic data has cooled off the dollar
Weaker US economic data (like unemployment rising to 4.3%) has cooled off the dollar, making room for the rupee to recover.
Still, trade tensions linger—US officials are unhappy with India's tariffs—and rising crude oil prices could add pressure going forward.