Rupee recovers slightly on equity rally after Trump backpedals on Europe tariff threat
The Indian rupee slightly recovered on Thursday, influenced by improved risk appetite after President Trump eased tariff threats against Europe. It opened at 91.53 but faced pressure, last quoted at 91.59, following a previous drop to an all-time low of 91.7425. U.S. equities rallied after Trump's comments at the World Economic Forum, which alleviated trade tension concerns. Economists predict continued volatility for the rupee, with depreciation expected to be more measured, influenced by dollar demand and capital flows, alongside domestic growth and inflation factors.
Reuters·
