Indian Rupee Rises on Dollar Sales and Lower Oil
The Indian rupee edged higher on Monday supported by foreign bank dollar sales and lower oil prices. Traders are assessing whether recent policy measures can sustain the currency bounceback from near record lows.
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The India rupee rose 0.1% to 94.8225 against the dollar on Monday morning, supported by foreign bank dollar sales. The currency is hovering near its strongest level in over a month following a 2% gain last week. Policy measures implemented to shore up the currency have helped stabilize exchange rates after near-record lows.
