The Indian rupee strengthened against the U.S. dollar in mid-morning deals on Tuesday on the back of a rally in regional stocks.
Market sentiment has improved as weak global manufacturing data spurred hopes of fresh stimulus from major central banks including the U.S. Federal Reserve
The rupee advanced to 54.8505 against the greenback, its highest level since June 8. The rupee thus appreciated 1.05 percentage against the greenback from Monday's close of 55.435. The next upside target level for the rupee is seen at 54.00 level.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.