The rupee appreciated seven paise to 93.70 against the US dollar in early trade on Wednesday, supported by foreign capital inflows, softer crude oil prices and improving geopolitical sentiment, forex traders said.
The RBI’s latest policy measures aimed at boosting foreign capital inflows could attract nearly $50 billion, according to ICICI Bank Global Markets. Analysts say expanded investor access, improved liquidity measures and bond market reforms may further strengthen inflows and support the rupee
The rupee strengthened sharply by 81 paise to close at 94.93 against the US dollar after the Reserve Bank of India announced measures to boost foreign capital inflows and forex liquidity. The RBI kept repo rate unchanged at 5.25% while maintaining a neutral stance
