Rupee Posts Its Sharpest Rally in Six Months
The rupee rose about 1% to 95.77 per dollar from 96.73 after the central bank took steps to temper dollar demand in spot and derivatives markets. Likely intervention through dollar sales added to the gains.
The Indian rupee climbed about 1% on Monday after the central bank moved to curb dollar demand in spot and derivatives markets. Likely dollar sales by the central bank also contributed to the currency’s advance. 73 on F…