Rupee recovers 13 paise from its all-time low closing level to 86.98 against US dollar

The rupee recovered 13 paise from its all-time debased closing level to 86.98 against the US dollar successful aboriginal commercialized connected Tuesday, aft President Donald Trump agreed to intermission tariffs connected Mexico and Canada for 30 days.

Forex traders said the US dollar index, which had surged past 109.88 level, retreated to 108.74 aft Trump announced the impermanent intermission connected tariffs.

At the interbank overseas exchange, the rupee opened astatine 86.98 against the greenback, registering a emergence of 13 paise from its erstwhile close.

On Monday, the rupee plunged 49 paise to adjacent astatine an all-time debased of 87.11 against the US dollar.

"The Indian rupee opened adjacent to 86.98 connected Tuesday aft alleviation from Trump's tariffs overnight connected reaching an statement with Canada and Mexico.

"The scope for the time is expected betwixt 86.80 to 87.20 with dips to beryllium bought. Premiums roseate connected Monday aft the Reserve Bank of India acceptable the chopped disconnected for 6 months swap higher than marketplace expectations," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.

Trump connected Monday held disconnected connected his tariff threats against Mexico and Canada for 30 days aft they pledged to boost borderline enforcement.
Meanwhile, Finance Minister Nirmala Sitharaman connected Monday said the worth of Indian rupee is market-determined, and determination has been nary devaluation, which is simply a diagnostic of a fixed speech complaint regime.

The rupee has been falling successful caller weeks, and connected Monday touched an all-time intraday debased of 87.29 against the American currency.

Finance Secretary Tuhin Kanta Pandey connected Monday said determination is nary interest implicit the rupee worth and the Reserve Bank of India is managing the volatility of the section currency.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading 0.22 per cent little astatine 108.74.

Brent crude, the planetary lipid benchmark, fell 0.57 per cent to USD 75.54 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex was trading 716.50 points, oregon 0.93 per cent, higher astatine 77,903.24 points, portion the Nifty was up 199.15 points, oregon 0.85 per cent, astatine 23,560.20 points.

Foreign organization investors (FIIs) offloaded equities worthy Rs 3,958.37 crore successful the superior markets connected a nett ground connected Monday, according to speech data.

On the home macroeconomic front, India's manufacturing assemblage maturation started the twelvemonth 2025 connected a beardown footing and touched a six-month precocious successful January, fuelled by the steepest upturn successful exports successful astir 14 years, a monthly survey said connected Monday.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) roseate from December's one-year debased of 56.4 to 57.7 successful January supported by the fastest upturn successful caller export orders since February 2011.