Currency Buzz: INR Recovers Amid Weak Dollar Overseas

23 Feb 2022 , 05:21 PM

The Indian rupee appreciated by 25 paise to 74.59 against the US dollar on Wednesday due to a pullback in the greenback and crude oil prices after Western countries imposed several sanctions on Russia for sending troops into separatist-held regions in Ukraine. At the interbank forex market, the local unit opened at 74.64 against the greenback and witnessed an intra-day high of 74.54 and a low of 74.73. The rupee was quoted at 74.59, registering a gain of 25 paise over its previous close. On Tuesday, the rupee depreciated by 29 paise to close at 74.84 against the US currency. Meanwhile, the dollar index, which measures the greenbacks strength against a basket of six currencies, declined 0.17 per cent to 95.86.

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