Indian rupee strengthens to 94.8225 per dollar after 2% surge
The Indian rupee climbed to 94.8225 against the dollar on Monday, its strongest in over a month.
This follows last week's solid 2% surge, pulling the rupee back from near-record lows.
The boost came as foreign banks sold dollars and oil prices dipped a bit, giving the currency some breathing room.
Policy tweaks, oil dip steady rupee
Recent policy moves, like making more dollars available for oil refiners and tightening rules on certain trades, have helped steady things for now. But experts say real stability will need better economic fundamentals.
With Brent crude prices dropping nearly 2%, that also took some pressure off.
Still, analysts like Amit Pabari, managing director at FX advisory firm CR Forex, warn that if global oil prices spike again, the rupee could get shaky: "However, elevated crude prices remain a key risk."