Politics · India Bureau
Rupee strengthens for fourth consecutive day against dollar
The Indian rupee extended its recovery against the US dollar, advancing 44 paise to reach 94.92 in early trading. The gains reflect the combined impact of RBI interventions aimed at controlling speculative currency movements and official acknowledgment of recent depreciation pressures.
LSN India ·
The rupee climbed to 94.92 per US dollar during early trade on Tuesday, marking its fourth successive session of appreciation. The currency's recovery has been underpinned by Reserve Bank of India measures specifically designed to moderate speculative trading activity in forex markets.
Finance Minister Nirmala Sitharaman acknowledged that the rupee had experienced "significant" depreciation over the preceding 18-month period, a statement that underscores official concern about the currency's trajectory. Her comments coincided with the rupee's latest gains, suggesting coordinated efforts to stabilize the domestic currency.
The RBI's targeted interventions have proven effective in countering speculative pressures that have weighed on the rupee. Currency analysts note that the central bank's approach combines direct market operations with policy signalling to discourage one-way bets against the rupee.
The rupee's four-day rally represents a significant reversal of trend for a currency that has faced persistent headwinds from foreign capital outflows and broader dollar strength. Sustaining this recovery will depend on whether RBI support measures remain effective and global conditions continue to ease pressure on emerging market currencies.