The rupee closes stronger against US dollar. (Photo source: Radha Raswe/NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The rupee appreciated 16 paise to settle at 88.57 (provisional) against the US dollar on Tuesday, amid progress on the US shutdown bill and optimism over the US-India trade deal.

Forex traders said a rebound in domestic equities and optimism over a nearing US trade deal supported the local unit.

However, elevated crude oil prices and foreign fund outflows weighed on investor sentiment.

At the interbank foreign exchange market, the rupee opened at 88.69 against the American currency, touched an intraday high of 88.52 and a low of 88.72 during the day.

The domestic unit finally settled for the day at 88.57 (provisional), higher by 16 paise

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