Economic TimesLean R·
Rupee stages stunning ₹1 comeback against dollar: What’s the RBI’s 4-step shock therapy and how long can it last?
The Indian rupee gained against the US dollar after the Reserve Bank of India announced several intervention measures. These actions aimed to stabilize demand from oil companies and curb speculative trading. The RBI implemented restrictions on foreign exchange derivatives and increased cash reserves for banks. Despite this temporary relief, the rupee remains vulnerable to external pressures such as high crude prices and capital outflows.
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