1. Indian rupee becomes Asia's top gainer after RBI tightens dollar restrictions

Indian rupee becomes Asia's top gainer after RBI tightens dollar restrictions

Business

  • The Indian rupee became Asia's top gainer, rising 0.8% to ₹95.01 against the US dollar on October 13.
  • The Reserve Bank of India RBI tightened currency trading rules to reduce dollar demand and support the rupee.
  • The rupee gained nearly 1% on Monday, followed by another strong rise on Tuesday amid RBI interventions.
  • Despite the recovery, the rupee remains down over 5% this year due to high oil prices and foreign investor outflows.

Source: ndtv.com

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