Rupee rallies 95 paise to six-month high after RBI curbs speculation
The Indian rupee appreciated 95 paise, closing at 95.78 against the US dollar, marking its highest value in six months. This increase followed the Reserve Bank of India's measures to curb speculation in the forex market. Analysts suggest that while the rupee's short-term outlook is positive, its long-term recovery hinges on foreign institutional investor inflows.