Indian rupee appreciated on Wednesday tracking favourable cues from domestic equity markets and softening crude oil prices. Traders took some support as India's trade deficit narrowed to $21.94 billion in December from November's revised $32.84 billion, as exports grew last month while overseas shipments went down on sequenial basis. On the global front, ringgit advanced against the US dollar at the close on Wednesday following reduced demand for the American dollar influenced by softer US Producer Price Index (PPI) data and expectations of a gradual tariff implementation.
Finally, the rupee ended at 86.41 (Provisional), appreciated by 12 paise from its previous close of 86.53 on Tuesday. The currency touched a high and low of 86.55 and 86.28 respectively.
