Mumbai, May 5: The rupee recovered from all-time intra-day low to settle at 95.18 against the US dollar, higher by 5 paise, on Tuesday on possible RBI intervention after investors retreated from riskier assets amid renewed clashes in the Gulf and targeting of UAE infrastructure, which reignited supply chain fears.
Forex traders said Brent oil, hovering near USD 110 per barrel, is maintaining pressure on oil-importing economies like India. Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties dented investor sentiments further.
At the interbank foreign exchange market, the rupee opened at 95.30 against the US dollar, then lost ground and touched an all-time low of 95.44 in intra-day trade. The rupee finally settled for the day at 95.18, registering a rise of 5 paise over its previous close. (PTI)
