The Indian rupee appreciated 25 paise to close at 86.33 (provisional) against the US dollar on Wednesday, supported by positive domestic equities and soft US dollar index. The US dollar index continues to stay under pressure around a two-week low in early Asia on Wednesday in response to comments from US President Donald Trump about tariffs on its North American neighbours. Trump said that he was considering imposing 25% tariffs on Canada and Mexico while discussing imposing a 10% tariff on goods imported from China. US benchmark treasury yields fell below 4.6% and dollar index coiled below 108 mark. Meanwhile, local shares ended notably higher on Wednesday. The benchmark S&P/BSE Sensex surged 566.63 points, or 0.75 percent, to 76,404.99 while the broader NSE Nifty index closed at 23,155.35, up 130.70 points, or 0.57 percent, from its previous close. Rupee is likely to witness high volatility with a negative bias ahead of key events on the global front and Union Budget in the domestic economic landscape.
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