Rupee Recovers from Lows: Key Drivers & Future Outlook

• Indian Rupee strengthened by 22 paise to 89.45 against the US dollar, extending its rebound from recent all-time lows.
• Corporate dollar sales and renewed foreign portfolio inflows into Indian equities supported the currency's stabilization.
• Reserve Bank of India's dollar sales through state-run banks played a crucial role in reducing volatility and aiding recovery.
• Manageable Brent crude prices near $60/barrel and a steady dollar index offered limited headwinds.
• India's foreign exchange reserves increased by $1.689 billion to $688.949 billion, strengthening confidence, despite a 4.1% decline year-to-date.

Why It Matters: Rupee recovers from recent lows due to inflows, RBI intervention, and stable global cues, but long-term pressure remains.