The Indian rupee recovered 88 paise to 87.93 against the US dollar, aided by a declining dollar index, lower crude prices, and RBI intervention. Market watchers note the impact of US Fed rate cut signals, global uncertainties, and ongoing US shutdown.

Mumbai: The rupee recovered 88 paise from its all-time closing low to 87.93 against US dollar in early trade on Wednesday, on easing dollar index after the US Fed indicated more rate cuts in the current year.

Forex traders said all decline in crude oil prices and reports of RBI intervention supported the domestic currency.

At the interbank foreign exchange market the rupee opened at 88.74 against the US dollar, then gained momentum and touched 87.93, registering a gain of 88 paise from its previous close.

It was later trading at 88.33 ag

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