Rupee hits 5 month high; logs biggest single-day gain in 29 months

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Rupee hits 5 month high; logs biggest single-day gain in 29 months - Business Standard

Quick Summary:

The local unit closed the day at 84.49/$ against 85.25/$ on Tuesday, marking its highest single-day appreciation in the current calendar year.

After plunging to its all-time low of 87.95/$ on February 10, 2025, the Indian unit staged a remarkable comeback, appreciating 2 per cent in March and 1.16 per cent in April.

In 2025 so far, it has gained 1.33 per cent.“The Indian rupee witnessed its most significant single-day appreciation since November 2022.