Besides, the dollar's overseas weakness, easing global crude oil price, and higher opening in the domestic stock market supported the most recent recovery in the currency.
The Indian rupee gained during morning trade on fresh selling of the American currency by banks and exporters. Besides, the dollar's overseas weakness, easing global crude oil price, and higher opening of the domestic stock market supported the currency's recovery. The rupee opened higher by 18p at 73.88 in early trade.
On the economy front, the International Monetary Fund (IMF) has retained India's growth rate at 7.3% in 2018, while it estimates the 2019 growth rate to touch 7.4%. The IMF has slashed its global growth forecast for this year to 3.7% owing to escalating trade disruptions between the US and China.
Currently, the rupee is trading flat at 74.05/$.
On Monday, the home currency ended lower at 74.27/$.
On the economy front, the International Monetary Fund (IMF) has retained India's growth rate at 7.3% in 2018, while it estimates the 2019 growth rate to touch 7.4%. The IMF has slashed its global growth forecast for this year to 3.7% owing to escalating trade disruptions between the US and China.
Currently, the rupee is trading flat at 74.05/$.
On Monday, the home currency ended lower at 74.27/$.
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