Rupee rebounds to 87.25 against US dollar
The rupee climbed to 87.25 against the US dollar on Friday morning—up 40 paise from its all-time low yesterday.
This rebound was helped by falling crude oil prices and the Reserve Bank of India stepping in to steady things.
A stronger rupee makes imports less expensive
A stronger rupee makes imports less expensive, which is a relief for businesses (and anyone who buys imported stuff).
But there's still pressure—new US tariffs on Indian exports just kicked in, making life tougher for exporters.
The stock market stayed cautious too, with foreign investors pulling out big money and the Sensex slipping.
Analysts expect rupee to swing between 87.25 and 88
The RBI sold dollars on Thursday to stop the rupee from sliding further.
Still, analysts think the rupee could swing between 87.25 and 88 as global uncertainty sticks around and India's fiscal deficit grows, keeping things unpredictable for now.