Rupee recovers 14 paise from its all-time low to 87.66 against US dollar

MUMBAI: (Jul 31) The rupee recovered 14 paise from its all-time low to 87.66 against the US dollar in early trade on Thursday on suspected RBI intervention, after US President Donald Trump’s tariffs of 25 per cent and the penalty for buying Russian Crude and Arms.

Forex traders said the rupee, which plunged 89 paise, logging its steepest single-day fall in over three years, recovered some lost ground but is trading with a negative bias.

At the interbank foreign exchange, the rupee opened at 87.66, then touched an early low of 87.74 against the US dollar.