Rupee extends intervention-spurred gains, hits near two-week high

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The Indian rupee hit a near two-week high on Wednesday following a significant intervention by the Reserve Bank of India, forcing the liquidation of bearish positions. The DBS Bank anticipates the rupee to weaken by mid-2025 due to the dollar’s safe-haven appeal amidst U.S. trade tariffs and delayed Federal Reserve rate cuts.

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Rupee extends intervention-spurred gains, hits near two-week high

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