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India rupee outpaces Asian peers on fresh FX curbs, RBI intervention
MUMBAI: The Indian rupee outperformed its regional peers on Tuesday, boosted by new central bank measures to alleviate pressure on the Asian currency and likely spot market intervention that magnified their impact. The Indian currency rose to a peak of 95.0725 per dollar in early trading before trimming gains to settle at 95.28, up 0.5% from the previous close. The Reserve Bank of India has taken a series of tough regulatory steps aimed at supporting the rupee by re-routing oil dollar demand to a special facility, imposing margins on hedging current account liabilities and banks’ hedging their...
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