Mumbai: The rupee rebounded from its all-time low, rising 6 paise to 88.70 against the US dollar in early trade on Friday amid a weaker greenback and hopes of an India-US trade deal breakthrough.

However, FII outflows, coupled with a rise in international crude oil prices limited gains for the local unit, according to forex traders.

At the interbank foreign exchange, the rupee opened at 88.72 before rising to 88.70, higher by 6 paise from its previous close.

The rupee had slipped 1 paisa to close at a fresh lifetime low of 88.76 against the American currency on Thursday.

“Markets await for RBI action on October 1 when the MPC announces its rate decision amidst a falling rupee and trade tariffs uncertainties. The overall outlook looks cautious, with market sentiment closely tied to for

See Full Page