Indian Rupee Extends Gains on RBI Stance
The Indian rupee rose for a third consecutive session to hit a one-month peak following hawkish central bank commentary and regulatory measures. However, gains were capped below 95 per dollar due to persistent importer hedging and portfolio outflows.
The India rupee rose 0.1% to 95.15 per dollar during Wednesday morning trading, marking a third consecutive session of gains. The currency climbed to a peak of 94.77 earlier, hitting a one-month high following central bank regulatory tightening and hawkish commentary. Gains stalled below 95 as persistent importer hedging and portfolio outflows sustained dollar demand.
