The currency had dropped to a record low of 83.5750 on Friday but has since recovered modestly helped by the central bank s intervention and as fears of escalation in the Middle East conflict ebbed.
The Indian rupee closed higher on Wednesday, aided by likely inflows and lower U.S. bond yields, while state-run banks dollar appetite constrained the local currency s gains after it touched the strongest level in nearly three weeks.
The currency was weighed down by dollar demand from local oil companies. Thai baht and Chinese yuan weaken. Importers pressure rupee. Forex trader mentions foreign banks selling dollars. Derivative contracts cause turmoil.
The Indian rupee ended little changed on Tuesday after hovering in a tight band through the session as dollar sales by exporters helped offset weakness in the currency s Asian peers.
The Indian rupee closed stronger on Tuesday, as likely central bank intervention and an uptick in Asian peers helped it recover from last week s record lows.