Indian Rupee rebounds, touches back 90.30 against USD

Mumbai: The Indian rupee strengthened sharply in early trade on Tuesday. The move followed a decision by the US to cut tariffs on Indian goods to 18 per cent. The change improved sentiment around India’s trade outlook and capital flows.

The rupee appreciated 119 paise to 90.30 against the US dollar in early trade. It had closed at 91.49 in the previous session.

At the interbank foreign exchange market, the domestic currency opened strong at 90.30. The move marked one of the sharpest single-day gains in recent sessions.