The rupee stayed firm for the third straight session and settled with a gain of 13 paise at 87.06 against the US dollar on Wednesday buoyed by a sharp recovery in domestic equities, a weak American currency and falling crude oil prices.
Forex traders said US President Donald Trump's tariff escalation has set off a chain reaction in global markets, sending the dollar into a downward spiral.
At the interbank foreign exchange, the rupee witnessed high volatility. It opened at 87.18 then touched the intraday high of 86.93 and the low of 87.20 against the greenback. The unit ended the session at 87.06 against the dollar, registering a gain of 13 paise from its previous closing level.
The rupee settled with a gain of 13 paise at 87.19 against the US dollar on Tuesday, a day after ending 5 paise higher on Monday.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.79 per cent lower at 104.91 amid trade tariff ...