Rupee logs best day in over 6 weeks as RBI intervention magnifies oil slump impact
The Indian rupee saw its best trading session in over six weeks on Monday. This gain was driven by likely central bank intervention and a significant drop in oil prices. The rupee climbed to an intraday high after breaking through resistance levels. Falling oil prices extended their slide following a pause in U.S.-Iran attacks. The Reserve Bank of India’s dollar selling further boosted the currency’s momentum.
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