Rupee Bounces Back: Gains 4 Paise to Settle at 87.07 Against the Dollar

In a notable recovery, the Indian Rupee rebounded by 4 paise from its historic low, closing at 87.07 against the US Dollar on Tuesday. This recovery comes amid fluctuating market conditions and ongoing global economic uncertainties. Forex traders attributed the rupee’s recovery to easing crude oil prices and a weaker dollar index. The Reserve Bank of India’s intervention in the forex market also played a crucial role in stabilizing the currency. Analysts remain cautious, however, as global factors continue to pose challenges to the rupee’s stability.