INDIA RUPEE — Rupee hits one — month high after RBI backs FX curbs with stability pledge

(Updates post market open) By Jaspreet Kalra MUMBAI, Oct 14 (Reuters) — The Indian rupee rose to its strongest level in over a month on Wednesday, hoisted by hawkish remarks from the central bank chief and pledges of ensuring currency stability following a series of measures to support the South Asian unit. The unit was Asia'sbest-performing currency on the day, rising 0.4% against the greenback, and was last at 94.9125 per dollar. It has risen about 2% this week, aided by the central bank'smeasures to shore up the currency, includingredirecting oil-related dollar demand away from the market, tightening compliance requirements for currency hedges, imposing cash margin requirements for importer hedges and banks' hedging of their own assets and liabilities. Market sentiment was further buoyed by remarks from Reserve Bank of India Governor Sanjay Malhotra, who said in a media interview that the FX measures are aimed at curbing speculation and the central bank is prepared to take further steps to ensure orderly movement in the rupee. While Malhotra did not signal more rate hikes to support the rupee, he said monetary policy could have a bearing on financial stability and that without p