Indian rupee gains on US-Iran deal hopes and RBI support
The rupee is set to rise as US-Iran peace hopes boost risk appetite. RBI Governor Sanjay Malhotra aided sentiment by stating the currency appears undervalued.
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India's rupee is expected to open at 95.50 per dollar, extending a two-session rally. The currency recovered from a record low near 97 hit last week after central bank intervention and falling oil prices. Stabilizing exchange rates reduce import costs for the world's fastest-growing major economy amid volatile energy markets.
