BusinessPhoto: NDTV BusinessIndian Rupee Strengthens 2 Points Against US Dollar in One Week
The Indian rupee rebounded sharply after hitting a record low of 96.8 against the US dollar a week ago. It recovered by 2 points to settle at 95.06 per dollar on Thursday. The Reserve Bank of India (RBI) played a key role by restricting rupee-linked foreign exchange derivative contracts and introducing a Foreign Exchange Risk Reserve (FERR) requiring dealers to hold cash reserves for large derivative contracts.
NDTV Business·


