Rupee Edges Up to ₹88.20 Against US Dollar
On Monday, the Indian rupee gained 6 paise to close at ₹88.20 per US dollar in interbank trading. This was a marginal improvement driven by range-bound trading and a slightly weaker US dollar.
Market Dynamics
Traders noted controlled volatility in the forex market. Some attributed the rupee’s mild strengthening to possible intervention by the Reserve Bank of India, using its foreign exchange management powers. Other factors included modest dollar demand from importers that capped larger gains.
Context & Comparison
Recently, the rupee had touched record lows—above ₹88.40 per dollar—amid pressures from U.S. tariffs on Indian exports and weak foreign fund inflows. The current level of ₹88.20 marks a small recovery from those lows, although analysts warn that volatility may persist given global uncertainty.
