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.

Raccontata dathehindubusinessline.comeconomictimes.indiatimes.com