Rupee posts biggest single-day gain in over two years on RBI action

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Rupee posts biggest single-day gain in over two years on RBI action - Business Standard

Quick Summary:

Rupee rallies 0.9 per cent to 85.

Additionally, the RBI was actively seen selling approximately $1 billion near higher levels, which further strengthened the rupee,” said Amit Pabari, Managing Director, CR Forex.

It was one of only three Asian currencies to weaken against the greenback during the month and ranked as the second-worst performing emerging market currency, after the Hong Kong dollar.