MUMBAI: The rupee gained 19 paise to close at 87.00 against the US dollar on Wednesday, supported by a rebound in domestic equities, a weaker dollar, and lower crude oil prices.
The currency saw high volatility, trading between 86.93 and 87.20 during the session. The dollar index dropped 0.79 per cent to 104.91 amid global trade uncertainties, while Brent crude fell 0.75 per cent to USD 70.51 per barrel.
Markets surged, with the Sensex rising 740.30 points to 73,730.23 and the
Nifty gaining 254.65 points to 22,337.30. However, foreign institutional investors offloaded equities worth Rs 3,405.82 crore
Meanwhile, US President Donald Trump announced new tariffs on several countries, prompting Canada, Mexico, and China to impose retaliatory duties on American goods.