Rupee Gains 12ps To 85.68/$

Mumbai: The rupee sustained its rally for the third straight session and settled with a gain of 12paise at 85.68 against the US dollar on Wednesday, boosted by the renewed inflow of foreign funds and a weak American currency.

Positive domestic macroeconomic numbers amid the 90-day pause on US reciprocal tariffs triggered a buying rush in equities, strengthening the local currency, according to forex traders. Also, lower crude prices in international markets supported the domestic unit, they added. At the interbank foreign exchange, the domestic unit opened at 85.66 and moved between the intraday high of 85.50 and the low of 85.72 against the greenback.

The unit ended the session at 85.68, registering a gain of 12paise over its previous closing level. The rupee had closed Tuesday’s session with a gain of 30paise at 85.80 against the dollar. It had risen sharply by 58paise in the preceding session on Friday. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.57 per cent at 99.39, a level seen in March 2022.