Rupee Sees Best Day in 29 Months

The rupee logged its best single-day gain in nearly two and a half years to close the day on Wednesday at a five-month high amid a softening dollar due to US President Donald Trump's trade policy, and in the absence of the Reserve Bank of India (RBI) in the foreign exchange market.

- ANUPREKSHA JAIN

The local unit closed the day at 84.49/$ against 85.25/$ on Tuesday, marking its highest single appreciation in the current calendar year. The local unit was up by 0.9 per cent, the highest since November 11, 2022.

After plunging to its all-time low of 87.95/$ on February 10, 2025, the Indian unit has 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.