Market News
Rupee soars past 90 per dollar as central bank reprises heavy-handed defence - REUTERS
MUMBAI, Dec 19 (Reuters) - The Indian rupee posted its strongest single-day gain in over three years on Friday, rising above the 90-per-dollar mark late in the session, as the central bank intervened to shore up the currency and curb speculative bets, traders said.
The currency had slipped to a record low earlier this week on a lingering trade impasse with the U.S. and persistent portfolio outflows, but the central bank’s interventions have led to a 2% rise from the trough.
