Economy
Indian Rupee Rises 44 Paise Against US Dollar in Early Trade
The Hindu57m
THE BRIEF
1
The Indian rupee appreciated 44 paise to 94.92 against the U.S. dollar in early trade on Wednesday, marking its fourth straight gaining session.
2
The rise was supported by Reserve Bank of India interventions to curb speculative forex trading and ease near-term dollar demand.
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Finance Minister Nirmala Sitharaman stated that the currency depreciated significantly over the past 18 months due to external macroeconomic challenges.