Rupee soars after RBI comes out firing in support

The Indian rupee strengthened significantly, closing at 91.60/$1, up from 92.15/$1, due to substantial interventions by the Reserve Bank of India. Despite higher oil prices and a risk-off sentiment, the RBI's actions prevented the rupee from weakening further, though concerns remain about the impact on domestic liquidity.

from Economic Times https://ift.tt/XKoUCAP