Indian Rupee Climbs 1% After RBI Moves to Curb Dollar Demand
The rupee opened 1% higher on Monday after the RBI redirected oil companies’ dollar purchases away from the spot market and introduced measures expected to temper corporate demand for forward dollars.
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By Nimesh VoraThe Indian rupee surged 1% at open on Monday after the central bank alleviated pressure on the currency by diverting oil companies’ dollar purchases away from the spot market and moved to temper corporate demand for forward dollars.The rupee FX_IDC:USDINR opened at 95.76 to the dolla…
The Indian rupee rose 1% at Monday’s open after the central bank acted to ease pressure on the currency. It redirected oil companies’ dollar purchases away from the spot market and introduced measures expected to curb corporate demand for forward dollars. The rupee opened at 95…