Rupee rebounds sharply on RBI's dollar selling intervention
after close1 source ↓written by the desknot a recommendation
- estimated
- $5 billion to $6 billion
The Indian rupee rebounded ₹1.04 against the dollar, marking its sharpest recovery in over seven months. This turnaround followed the Reserve Bank of India’s aggressive dollar selling, estimated at $5 billion to $6 billion. The RBI's intervention was crucial in halting the rupee's decline amid ongoing FII outflows and trade deal uncertainties.
Not investment advice. For informational purposes only.