Indian rupee gained sharply gained the US dollar but later could not hold on to most of the gains amid weak global risk sentiment.
The rupee today rose to 75.27 per US dollar at day's high before surrendering most of the gains. In comparison, the rupee had closed at 75.50 per USD in the previous session.
So far during today's session, the rupee traded in the range of 75.27 to 75.50 per US dollar. Recently, it was at 75.42 per US dollar.
The domestic sentiment was positive after Prime Minister Narendra Modi on Tuesday said the government would provide ₹20 lakh crore in fiscal and monetary measures to support an economy battered by a sweeping weeks-long lockdown to fight the novel coronavirus.
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