Rupee strengthens 1% against US dollar following RBI measures

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The Indian rupee rose sharply against the US dollar, becoming one of Asia's top-performing currencies this week. The increase follows measures announced by the Reserve Bank of India on Saturday aimed at easing pressure on the currency. Despite this recent gain, the rupee has still depreciated by 6.6% against the dollar since the beginning of the year. The RBI's actions specifically targeted two major sources of the rupee's weakness.

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