MUMBAI, Sep 17: The rupee appreciated by 24 paise to close at 87.85 against the US dollar on Wednesday, marking its fourth straight session of gains and reaching a two-and-a-half-week high.
The rise was supported by strong domestic equities, optimism over US-India trade talks, and global dollar weakness amid hopes of a US Fed rate cut.
Investors are eyeing a potential 25-basis point cut and dovish commentary from the Fed. Analysts cited improving trade relations and long unwinding in USD-INR as key drivers.
The dollar index rose 0.16% to 96.78. Brent crude fell 0.66% to $68.02 per barrel.
On the equity front, Sensex gained 313 points to 82,693.71, and Nifty rose 91 points to 25,330.25. Meanwhile, the US hailed recent trade talks with India as “positive,” easing tensions following increased tariffs on Indian goods. (PTI)
