Economic TimesLean R·
Rupee closes at 94.96 vs USD, logs best day in three weeks on NDF dollar sales, bailing shorts
On Tuesday, the Indian rupee experienced its most significant one-day increase in three weeks, driven by heightened dollar selling activity within the non-deliverable forward market. This prompted traders to adjust their positions, marking a reversal of the prior trend in forward market premiums. Additionally, other Asian currencies showed resilience against the dollar as investors forecast a reduction in U.S. interest rate hikes for the remainder of the year.
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