India, Nov. 9 -- The Indian rupee has made a strong recovery against the US dollar, gaining more than 3% from its record low of 96.90. A combination of developments, including US President Donald Trump's setback in the midterm elections and a decline in crude oil prices below $100 per barrel, has improved market sentiment towards emerging economies such as India.

The improving global outlook, along with the return of foreign investors to Indian equity markets, has raised expectations of further gains in the domestic currency. Market analysts believe the rupee could strengthen towards 92.50 against the dollar by the end of December 2026.

On Monday, November 9, the rupee opened 10 paise higher at 93.81 against the US dollar, compared with...