Rupee Holds Steady on Track for Strong Monthly Gain
The Indian rupee traded little changed at 95.25 per dollar on Friday, heading for its largest monthly gain since February. Traders noted that softer interventions by the Reserve Bank of India helped support the currency.
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India's rupee traded nearly flat at 95.25 per dollar during Friday morning trade, heading for its largest monthly gain since February. The currency rose 0.6% in October following regulatory steps to curb dollar demand and reroute oil-linked purchases. This performance marks a recovery after losses sustained following conflict involving Iran earlier this year and a prior trade breakthrough with the United States in February.
