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Economy

USD vs INR: Rupee rebounds over 1%, jumps most in seven months on RBI support

The Indian rupee rebounded sharply on December 17, rising over 1% to 90.0963 against the US dollar, its largest gain in seven months. This recovery came as the Reserve Bank of India (RBI) intervened to sell dollars, supporting the currency after it had hit record lows in previous sessions. Market sentiment had been affected by foreign outflows and delays in an India-US trade deal.

USD vs INR: Rupee rebounds over 1%, jumps most in seven months on RBI support

Credit: Livemint

Key Highlights

  • The rupee rose 1% to 90.0963, the highest increase since May 23.
  • The RBI sold dollars aggressively to stabilize the currency.
  • The rupee had previously hit a record low of 91.0750.
  • Foreign outflows and trade deal delays had negatively impacted sentiment.
  • The RBI is reported to have bought $5 billion of dollars via a foreign-exchange swap.
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Sources

  1. INR USD | Rupee roars back on RBI support to rise the most in seven months
  2. USD vs INR: Rupee rebounds over 1%, jumps most in seven months on RBI support
  3. India rupee roars back on RBI’s support, up most in seven months
  4. Rupee may catch a breather after swift decline; softer dollar helps at margin

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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