Rupee Rises Sharply; Settles at 81.54 Against Dollar

Mumbai: The Indian Rupee on Tuesday gained sharply from a dramatic plunge it recorded on Monday. The surge comes a day after Liz Truss’ U-turn decision to cut tax for UK’s highest earners.

According to PTI, the rupee appreciated by 30 paise and settled provisionally at 81.52 against the greenback currency. On Monday, the domestic unit crashed at the start of the final quarter, with the domestic currency in sight of another key level of 82 per dollar. Meanwhile, the crude prices jumped on likely production cut by oil producers

Meanwhile, Gold hit a two-month high on Tuesday. On the MCX, the yellow metal breached the Rs 51000 level to trade 0.55 higher, Futures December contract, around 2 PM on MCX. Likewise, Silver price too hit a three-month high of Rs. 61,686 per kg. The metal surged 1.27 per cent today while it had advanced more than 7 per cent on Monday — said to be the highest in 14 years in a single day.

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