The Indian rupee staged a modest recovery on Tuesday, gaining 19 paise from its all-time low to settle at 91.71 against the US dollar, supported by easing dollar demand and mild intervention by the Reserve Bank of India (RBI), according to forex market participants.
The local currency had earlier touched a record low amid sustained foreign fund outflows and strength in the US dollar across global markets. However, selling pressure in the greenback and improved risk sentiment helped the rupee pare losses by the end of the trading session.
Traders said that RBI’s presence in the forex market helped limit sharp volatility, while movement in crude oil prices and global bond yields continued to influence currency sentiment.
Market participants remain cautious as upcoming global macroeconomic cues and US interest rate expectations are likely to guide the rupee’s near-term trajectory.
Indian rupee ne Tuesday ko thodi recovery dikhayi aur all-time low se 19 paise sudhar ke saath US dollar ke against 91.71 par close hua. Forex market participants ke mutabik, dollar demand mein thodi kami aur RBI ke intervention ne rupee ko support diya.
Din ke dauran rupee par pressure bana raha, kyunki foreign fund outflows aur global markets mein US dollar ki strength dekhne ko mili. Lekin session ke end tak greenback mein selling pressure aane se rupee ne apne losses thode kam kar liye.
Traders ka kehna hai ki RBI forex market mein volatility ko control karne ke liye active rahi, jabki crude oil prices, US bond yields aur global macro cues rupee ke near-term movement ko affect karte rahenge.
Aane wale dino mein global interest rate outlook aur economic data rupee ke liye important rahenge.