A man holding Indian rupee banknotes. (Photo: Usha Kunji/BQ Prime)
The Indian rupee recovered sharply after hitting its lowest level against the U.S. dollar that strengthened on Jerome Powell's hawkish remarks at Jackson Hole.
The rupee closed at 79.46 against the greenback. During the day, it gained as much as 52 paise to 79.44 during the day.
The rupee had opened at 79.90 against the greenback, rebounding from an all-time low of 80.13 on Monday.
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