Indian Rupee Strengthens as Arbitrage Unwinding Continues
The rupee hit a two-week high as banks unwound arbitrage positions to meet RBI rules. Markets now focus on Wednesday's policy meeting and Middle East tensions.
Xurve View
Insights:
Xurve View
The Indian rupee demonstrated resilience on Monday as a wave of dollar sales linked to the unwinding of arbitrage positions bolstered the currency. The rupee climbed to a peak of 92.80 against the U.S. dollar, marking its strongest performance in two weeks, before settling at 93.07 as importer demand for the greenback increased.
