Rupee Gains Nearly 1% After RBI Curbs Speculative Trades
The Indian rupee rebounded nearly 1% to 95.77 per dollar on Monday following RBI's announcement of measures to curb speculative currency trading. A special window for state-owned oil marketing companies helped ease spot-market pressure. However, dollar buying by importers and corporates limited the gains. Elevated crude prices and global uncertainties continue to weigh on the rupee.
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