Rupee Jumps 1 Percent on RBI Policy Steps
The Indian rupee surged one percent after the central bank implemented measures to curb dollar demand from oil firms and raise hedging costs. The policy aims to ease currency pressures, though analysts question the rally's long-term sustainability.
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The India rupee surged 1% on Monday, rising to 95.74 per dollar from 96.73 after the central bank intervened to curb spot and forward FX demand.
