Indian Rupee Rises to One-Month High
The Indian rupee reached a one-month peak on Tuesday following central bank measures and spot market intervention designed to alleviate pressure on the currency. The Reserve Bank of India widened cash deposit mandates for foreign exchange hedges to support the local currency.
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India's rupee climbed 0.5% to 95.25 per dollar in Tuesday morning trade, touching a one-month peak. The advance followed fresh central bank measures and spot market intervention designed to alleviate pressure on the Asian currency.
