The rupee strengthened to 87.59 against the US dollar, buoyed by a weaker dollar index, falling Brent crude prices, and RBI intervention. However, FII outflows and a decline in domestic equity markets, coupled with new US tariffs, limited the rupee’s gains. The dollar index declined following concerns about the US Federal Reserve’s independence.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets