Rupee snaps 5-day losing streak! Indian currency rebounds from all-time low level against US dollar; What halted the one-way slide?
The Indian rupee halted its five-day decline, gaining 55 paise to close at 90.38 against the US dollar. This recovery is attributed to suspected aggressive intervention by the Reserve Bank of India, which sold dollars to support the currency. The rupee's earlier slide was driven by external factors like trade deficits and investment outflows.
