Rupee Sees Largest Single-Day Gain in Six Months Following RBI Intervention

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The Indian rupee recorded its most significant single-day appreciation in six months this week. This surge followed action by the Reserve Bank of India aimed at curbing speculative bets against the currency. RBI Governor Sanjay Malhotra had previously noted the rupee appeared undervalued on certain measures. The currency has been among the poorest performers in Asia throughout this year.

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