The rupee extended its gains to close at 94.53 against the US dollar, supported by RBI measures to boost foreign currency inflows, softer crude prices and expectations of stronger FCNR-B deposit inflows. The currency touched a six-week high before trimming intraday gains.
The rupee strengthened to a six-week high, closing at 94.53 against the US dollar. This surge was primarily driven by the Reserve Bank of India's measures to enhance foreign currency inflows and favorable softer crude oil prices. Expectations of robust FCNR-B deposit inflows…
Market Samachar is a news aggregator. This article was originally published by Markets-Economic Times. Tap the button above to read the full story on their site.