Rupee rises 28 paise on tariff-relief hopes

THE RUPEE ROSE 28 paise, or 0.33%, to close at 85.7725 against the US dollar on Tuesday, marking its second straight session of gains, driven by a strong rally in the equity markets, easing crude oil prices and hopes of additional relief on US trade tariffs.

- SACHIN KUMAR

The local currency has jumped 92 paise over the past two trading sessions. It gained 64 paise, or 0.74%, to close at 86.0537 on Friday, recording its biggest single-day gain in two months.

"A fall in crude prices and favourable macroeconomic data supported the rupee. However, foreign institutional investor outflows limited the upside," said Anuj Choudhary, research analyst at Mirae Asset Sharekhan.