The Indian rupee rallied sharply on Thursday, hitting its best day in more than a decade. The surge followed tighter RBI measures aimed at curbing speculative positions against the currency. Markets are now watching whether the crackdown can sustain gains, recalling 2013 when extraordinary steps were used to stabilize FX conditions amid similar stress.
The Indian rupee surged nearly 1.8% against the US dollar on Thursday, marking its strongest single-day gain since September 2013. The rally followed fresh Reserve Bank of India regulations designed to curb speculative trading. With banks adjusting positions after the new rules, traders expect the rupee to move within a narrow range next week rather than keep climbing.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
