MUMBAI: The Indian rupee logged its biggest one-day gain in more than a month on Tuesday as the dollar dipped towards a one-week low, boosting regional currencies, while foreign banks’ dollar sales also helped.
The rupee closed up 0.1% at 85.7125 against the US dollar, its strongest daily gain since late-November.
The dollar index fell 0.3% to 107.9, while other Asian currencies rose between 0.2% and 0.9% as traders pondered whether US President-elect Donald Trump’s trade tariffs would not be as aggressive as anticipated.
A report by the Washington Post on Monday said Trump’s aides were exploring tariff plans that would apply to every country but only cover certain sectors deemed critical to national or economic security, prompting a slump in the dollar.
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