The Indian Rupee rises as traders suspect Reserve Bank of India action after hitting a three-week low near 95.85.
The Indian Rupee (INR) gained ground against the US Dollar (USD) on Tuesday, with the USD/INR pair dipping to 95.67. The move followed a session high of 95.85, marking a three-week peak for the pair.
Traders attributed the rupee’s recovery to potential intervention by the Reserve Bank of India (RBI). The central bank has historically stepped in to stabilize the currency during periods of excessive volatility.
No immediate market reaction was specified, but the rupee’s slight rebound reflects cautious optimism among investors amid broader USD strength.