Market News
Rupee rebounds to post best day in over 7 months; US inflation data in focus - REUTERS
MUMBAI, Jan 15 (Reuters) - The Indian rupee rebounded on Wednesday, after falling to a lifetime low in the prior session, to log its best day in over seven months, aided by a softer greenback and strong dollar sales by foreign banks.
The rupee closed at 86.3625 against the U.S. dollar, up 0.3% on Wednesday, its best single-day percentage rise since June 3, 2024.
The currency had declined to an all-time low of 86.6475 in the previous session. It recovered on Wednesday, helped by the dollar index's retreat from a more than two-year peak and dollar sales by at least two large foreign banks, likely on behalf of custodial clients, traders said.
