The Indian rupee appreciated by 19 paise to close at 87.00 (provisional) against the US dollar on Wednesday on sharp pullback in domestic equities, a weak American currency and a decline in crude oil prices. As per provisional closing, the barometer index, the S&P BSE Sensex, rallied 740.30 points or 1.01% to 73,730.23. The Nifty 50 index added 254.65 points or 1.15% to 22,337.30. US President Donald Trump's tariff escalation has set off a chain reaction in global markets, sending the dollar into a downward spiral. The US dollar incurred further sharp losses on Wednesday and slumped to its lowest level in nearly four months amid uncertainty over US growth prospects. The dollar index that measures the greenback against a basket of currencies is quoting around November 2024 lows of 104.85, down 0.80% on the day. At the interbank foreign exchange, the rupee witnessed high volatility. It opened at 87.18 then touched the intraday high of 86.93 and the low of 87.20 against the greenback. The unit ended the session at 87.00 (provisional) against the dollar, registering a gain of 19 paise from its previous closing level.
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