Rupee Surges 26 Paise to Trade at 94.96 Against US Dollar

The Indian rupee strengthened by 26 paise to trade at 94.96 per US dollar on Tuesday morning, driven by robust domestic growth and contained fiscal slippage.

According to the interbank foreign exchange market, the rupee opened at 95.06 before gaining ground to touch 94.96 against the US dollar.

This marked a gain of 26 paise from its previous close.

The rupee had pared initial losses on Monday and settled with gains of 21 paise at 95.22 against the US dollar.

Market experts believe that the USD/INR pair has found a strong near-term base around 95.10-95.20.