Mumbai, June 24 -- The Indian rupee witnessed a sharp rebound against the dollar in opening trades on Tuesday tracking a pullback in dollar and deep decline in international crude oil prices. WTI crude oil futures are down around 2.5% in early Asia on Tuesday following a sharp plunge by over 7% in the previous session as President Trump's announced that a ceasefire has been agreed upon between Iran and Israel. Meanwhile, dollar dropped from a 3-week high after Fed Governor Bowman and Chicago Fed President Goolsbee said they favored a Fed rate cut at next month's FOMC meeting. INR opened at Rs 86.07 per dollar but pared gains to be currently quoting at 86.11.

Yesterday, rupee plunged 23 paise to close at a five-month low of 86.78 against ...