Rupee Strengthens by 19 Paise to Settle at 87.00 Against US Dollar

Rupee Strengthens by 19 Paise to Settle at 87.00 Against US Dollar

The Indian rupee appreciated by 19 paise to close at 87.00 (provisional) against the US dollar on Wednesday, driven by a sharp rebound in domestic equities, a weaker American currency, and a decline in crude oil prices.

Forex traders attributed the dollar’s slide to escalating trade tariff concerns triggered by US President Donald Trump’s latest policy moves, which have unsettled global markets.

At the interbank foreign exchange market, the rupee experienced significant volatility. It opened at 87.18, touched an intraday high of 86.93, and dipped to a low of 87.20 against the greenback before settling at 87.00, marking a 19 paise gain from its previous close.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six major currencies, was trading 0.79 percent lower at 104.91, reflecting broader market uncertainties over trade tariffs.