“Rupee Gains 8 Paise From Record Low Of 86.64”

The Indian rupee showed some recovery after hitting a record low of 86.70 against the US dollar, closing at 86.62. The currency was under pressure throughout the day due to high crude oil prices and foreign fund outflows. However, the recovery was supported by a bounce in domestic equity markets and intervention by state-run banks, likely on behalf of the Reserve Bank of India.

The rupee’s volatility increased amid strong dollar demand and global economic factors. Experts expect the rupee to trade between 86.25 and 86.85 in the short term, with domestic and global factors playing a key role in its movement.

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