Rupee records best single-day gain in 7 months to close at 86.36

The Indian rupee jumped 0.3% on Wednesday to record its best single-day gain in more than seven months. The currency ended at 86.3625 against the US dollar, a day after hitting an all-time low of 86.6475. The rebound was driven by the dollar index's retreat from an over two-year high and strong dollar sales by foreign banks.