Good start for Indian rupee today, rebounds 28p, saves itself from hitting 73 mark
A higher opening in the equity market is also stated to have supported the recovery of Indian rupee. The domestic unit on Tuesday slid further by 47 paise to settle at a record low of 72.98 after scaling an all-time low of 72.99 (intra-day) against the US currency. This was reportedly in the wake of surging crude oil prices and escalating trade war worries.
Much to the country's relief, Indian rupee today strengthened by 28 paise to 72.70 against the US dollar in early trade at the Interbank Foreign Exchange market. Image source: Reuters