Indian rupee strengthens on RBI intervention comments
pre-market1 source ↓written by the desknot a recommendation
The Indian rupee gained against the U.S. dollar during the European session on Monday, driven by expectations of increased RBI intervention in the forex market. RBI Governor Sanjay Malhotra indicated the central bank's readiness to act against disproportionate currency moves.
This development may bolster trader confidence and stabilize the rupee in the near term.
Not investment advice. For informational purposes only.