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Rupee closes at 10-week high on strong inflows
The Indian rupee strengthened significantly on Thursday, reaching a ten-week closing high. This gain was driven by substantial inflows of $136 billion into Indian markets. The currency closed at 94.4850 against the US dollar, marking its sharpest daily rise. Experts suggest the rupee could further strengthen, potentially reaching 93.80. These overseas inflows are expected to boost foreign reserves past $750 billion soon.
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thehindubusinessline.com
RBI intervention, dollar flows push rupee to two-month peak
The currency ended at 94.9500, up 0.2% from the previous close, notching its third consecutive daily rise.
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economictimes.indiatimes.com
RBI intervention, dollar flows push Indian rupee to two-month peak
The Indian rupee surged to a two-month peak against the U.S. dollar, buoyed by decisive central bank interventions and dollars flowing in from foreign banks. Positive domestic…
