RBI rescue: Rs rises 65p to 90.38/$, best day in 2 months - The Times of India
The Indian rupee recorded its strongest single-day gain in nearly two months after timely intervention by the Reserve Bank of India helped calm currency markets. The rupee appreciated significantly against the US dollar, supported by central bank action that curbed excessive volatility and improved market confidence. Currency traders noted that dollar selling by the RBI helped ease pressure caused by global uncertainty and persistent foreign fund outflows. Improved sentiment in domestic equity markets also supported the rupee’s recovery. Analysts believe the RBI’s move signals its commitment to maintaining stability rather than targeting a specific exchange rate level. Despite the day’s strong performance, experts caution that external factors such as US interest rate expectations, crude oil prices, and global risk appetite may continue to influence the rupee’s direction. However, the latest rebound offers temporary relief and reinforces the RBI’s role in managing sharp currency fluctuations.
The Key points
- Rupee posts best daily gain in nearly two months
- RBI intervention helps control sharp currency volatility
- Dollar selling boosts confidence among forex traders
- Improved equity markets support rupee recovery
- Global uncertainty previously weighed on the currency
- Foreign fund outflows remain a concern for markets
- RBI focuses on stability, not fixed exchange levels
- Crude oil prices continue influencing rupee movement
- US interest rate outlook impacts dollar demand
- Short-term relief, but external risks still remain
Disclaimer: This preview includes title, image, and description automatically sourced from the original website (timesofindia.indiatimes.com) using publicly available metadata / OG tags. All rights, including copyright and content ownership, remain with the original publisher. If you are the content owner and wish to request removal, please contact us from your official email to no_reply@newspaperhunt.com.
