Rupee Hits 2-Month High of 94.30 Against Dollar

The Indian Rupee strengthened to a two-month high of 94.30 against the US Dollar, driven by robust inflows into FCNR(B) deposit accounts.

RBI intervention and increased foreign bank dollar flows have bolstered the currency, helping it recover from recent volatility in the forex market.

The surge reflects improved investor confidence in India's external sector, with total inflows under the facility reportedly exceeding $136 billion.