Rupee Set to Rally After RBI Curbs Dollar Demand
The Indian rupee is poised to strengthen on Monday after the central bank implemented strict new foreign-exchange rules to curb dollar demand and speculation. The measures raise hedging costs for importers and alter corporate strategies.
The India rupee is poised to rally up to 1% on Monday morning after the central bank stepped up efforts to curb dollar demand. The currency is expected to trade between 95.60 and 95.90 per dollar, following a close of 96.73 on Friday.
