Rupee recovers to 95.60/USD as govt hikes duties on gold, silver

The Indian rupee recovered slightly against the US dollar on Wednesday after the government hiked import duties on gold, silver, and certain other precious metals from 6% to 15%. The rupee was trading at 95.60 per dollar after closing at a record low of 95.63 in the previous session. However, elevated Brent Crude prices are keeping traders cautious.