Market News
Two truces bring multi-pronged relief for Indian rupee - REUTERS
By Jaspreet Kalra
MUMBAI, May 13 (Reuters) - The cessation of military hostilities between India and Pakistan and a tariff truce between the United States and China brought relief for the rupee on Tuesday, helping the currency recoup nearly all of its losses from the previous week.
The rupee strengthened to a peak of 84.6350 before paring gains to quote 0.5% higher at 84.9175 against the U.S. dollar.
Dollar-rupee forward premiums and volatility expectations eased after the two nuclear-armed neighbours announced a truce over the weekend following four days of intense fighting.
