The Indian rupee strengthened against the U.S. dollar for the fifth day straight, marking its longest rally in a year. Lenders and exporters aggressively reduced their dollar holdings. The rupee closed higher, recovering from an initial dip. This upward movement was driven by fixing-related selling and strong exporter support. Declining crude oil prices also aided the rupee's rise.
The Indian Rupee has extended its winning streak against the US dollar to five days, marking its longest rally in a year. This strengthening was primarily due to aggressive dollar selling by banks and exporters. Further support came from fixing-related selling and a drop in…
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