Rupee bounces from day's low on RBI support (opens original article in a new tab)

The Indian rupee recovered from its intraday low of 94.91 to close at 94.66 against the dollar on Wednesday, following dollar sales by state-run banks likely on behalf of the RBI. The dollar index reached a 13-month high of 101.6 as expectations of US rate hikes increased.

• Indian rupee closed at 94.66 per dollar on Wednesday
• Rupee reached intraday low of 94.91 before recovering
• Dollar index (DXY) hit 13-month high of 101.6