The Indian rupee strengthened by five paise to close at 88.67 (provisional) against the US dollar on Monday, supported by suspected RBI intervention and fresh foreign fund inflows.
Traders noted some resistance due to renewed US-China trade tensions, which fueled risk aversion in global markets.
At the interbank foreign exchange, the rupee opened at 88.75, traded in a range of 88.57–88.79, and settled at 88.67, marking a 5 paise gain from the previous close.