The rupee gained 9 paise to 88.51 against the US dollar, aided by lower crude prices. Investor sentiment remained cautious amid volatile global equities, FII outflows, domestic PMI data, and developments in the proposed India-US trade agreement.

Mumbai: The rupee gained 9 paise to 88.51 against the US dollar in early trade on Wednesday, supported by lower crude oil prices even as volatile equity markets across the globe weighed on investor sentiment.

The rupee also faced pressure due to a strong American currency as well as withdrawal of foreign capital from domestic stock markets, forex traders said.

At the same time, investors were concerned about the progress on the proposed India-US trade deal and the domestic PMI data to be released later this week.

At the interbank foreign exc

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