Rupee Recovers 19 Paise Against US Dollar, Closes at 91.71 Amid FTA Hopes

• The Indian Rupee gained 19 paise to close at 91.71 against the US dollar on Tuesday, recovering from its all-time low.
• The recovery was attributed to a decline in the US dollar index and positive sentiment from India-EU Free Trade Agreement (FTA) negotiations.
• The rupee opened at 91.82 and touched an intra-day low of 91.90 before settling higher.
• Rising commodity and crude oil prices, along with selling pressure from FIIs and geopolitical tensions, capped further sharp gains.
• India and the EU concluded FTA negotiations, expected to boost domestic sectors like apparel and chemicals, creating a market of 2 billion people.

Why It Matters: Rupee recovers from historic low, boosted by India-EU FTA and weaker dollar, despite FII selling.