Rupee Edges Higher to 96.24 Against Dollar The Indian rupee strengthened marginally against the US dollar, trading at 96.24, compared with its previous close of 96.3150....
The Indian rupee strengthened marginally against the US dollar, trading at 96.24, compared with its previous close of 96.3150.
Traders indicated that the Reserve Bank of India may have intervened in the currency market to support the rupee. The reported move comes as the currency remains near the 96-per-dollar level.
The rupee’s latest movement highlights continued attention on official support and the currency’s performance against the dollar. At 96.24 per dollar, the rupee was only slightly stronger than in the previous session.
Further currency-market developments will determine whether the rupee can sustain its marginal gain.
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