Rupee gains 1% on RBI intervention, markets close higher
after close1 source ↓written by the desknot a recommendation
- to close
- 1%
- against the dollar
- 89.27
- to stabilize
- $2-3 billion
- intraday high
- 89.2450
The Indian rupee appreciated by 1% to close at 89.27 against the dollar, marking its strongest single-day gain in over three years. This surge was largely due to the RBI's intervention, selling approximately $2-3 billion to stabilize the currency. As a result, both Sensex and Nifty ended the trading session higher, reflecting positive market sentiment.
• Rupee hit an intraday high of 89.2450
• RBI's action aimed to curb speculative bets and depreciation
• Sensex and Nifty both closed higher, indicating bullish market trends.
Not investment advice. For informational purposes only.