Rupee Recovers 22 Paise Against US Dollar, Closes at 91.68 Amid FTA Hopes

• The Indian rupee gained 22 paise to close at 91.68 against the US dollar on Tuesday, rebounding 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.
• India and the European Union concluded FTA negotiations, offering duty-free access for Indian apparel, chemicals, and footwear, and concessional duties for EU cars and wines in India.
• Despite the gains, rising commodity and crude oil prices, persistent importer demand, and FII selling pressure capped further appreciation.

Why It Matters: Rupee recovers from historic low due to weaker dollar and India-EU FTA, despite commodity price concerns.