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Indian rupee to extend recovery, RBI takes more steps to ease pressure
MUMBAI: The Indian rupee is set to build on its recovery at Tuesday’s open after the Reserve Bank of India announced more measures to alleviate pressure on the currency. The Indian rupee is expected to open in the 95.50 to 95.60 range, per traders, having rallied 1% to settle at 95.77 to the dollar on Monday. The rupee’s biggest single-advance in six months came after the RBI unveiled a series of measures to curb dollar demand. The central bank reinforced that with direct market intervention, selling dollars to support the currency, according to traders. The RBI has since taken further ...
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