Rupee
Rupee rallies! Indian currency gains 26 paise against US dollar
Mumbai/IBNS: The Indian rupee strengthened by 26 paise to trade at 89.92 against the US dollar on Wednesday, extending the gains recorded in the previous session, media reports said.
The domestic currency opened at 90.20 against the dollar before rising 26 paise from its previous close.
The initial recovery was witnessed on Monday, when the rupee snapped a four-day losing streak.
The rupee continued to firm up despite US President Donald Trump’s recent threat to raise tariffs on Indian goods.
A few days ago, Trump had praised Prime Minister Narendra Modi while hinting that the Indian leader was aware of Washington’s dissatisfaction over trade issues.
“Modi is a very good man. He’s a good guy. He knew I was not happy. It was important to make me happy. They do trade, and we can raise tariffs on them very quickly,” Trump said.
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