
Rupee surges 75 paise to close at 86.03 against USD
MUMBAI [Maha Media]: The rupee recovered from record low level and closed with a steep gain of 75 paise at 86.03 (provisional) against the US dollar as global crude oil prices went down following hopes of deescalation in Middle East tensions.
A weak greenback and positive sentiments in the domestic equity markets further boosted the local unit, according to forex traders.
Brent crude, the global oil benchmark, plummeted 3.19 per cent to USD 69.20 per barrel in futures trade as US President Donald Trump announced that Iran and Israel agreed to a ceasefire.