💨 Abstract

The Indian rupee rose to a nearly two-week high on Wednesday, extending its two-day rally, driven by the Reserve Bank of India's intervention in the market. Analysts believe this intervention may have forced the liquidation of bearish positions on the currency. The currency posted its largest single-day gain in nearly two years on Tuesday. However, DBS Bank forecasts the rupee will weaken to 88.8

Courtesy: theprint.in

Summarized by Einstein Beta 🤖