The Indian rupee reached a 10-week high against the U.S. dollar. This rise is attributed to increased foreign investment in Indian stocks...
The Indian rupee reached a 10-week high against the U.S. dollar.
This rise is attributed to increased foreign investment in Indian stocks and bonds.
The rupee has been appreciating for eight straight days.
Strong trade data and the Reserve Bank of India's (RBI) actions to manage the currency helped.
The RBI's interventions have made the rupee a top-performing Asian currency this month.
The U.S. Federal Reserve's decision to keep interest rates steady and its forecast for future cuts weakened the dollar.
Significant foreign investor buying in the Indian capital markets also boosted the rupee.
Indian stock markets also saw gains, with the NSE Nifty index rising.
Trading volumes in the NSE cash market also increased significantly.
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