The Indian rupee closed higher on Tuesday due to a rise in Asian currencies, but dollar demand from importers and foreign banks limited the local unit's gains. The rupee ended the day at 87.2650 against the US dollar, a 0.1 per cent increase. US trade tariffs on China, Canada, and Mexico led to a decrease in global stocks and bond yields, dampening risk appetite. Asian currencies saw gains of 0.1 per cent to 0.6 per cent. "There was a mix of (dollar) buying from oil companies, foreign banks and routine importer covering," a trader at a state-run bank said. Continued outflows from local equities have been a recent drag on the rupee. Foreign investors have sold over $14 billion in Indian stocks in 2025, making the rupee one of Asia's weakest currencies. Attribution: Reuters Subediting: M. S. Salama
