Rupee hits strongest level since August, thanks to RBI support
The Indian rupee just climbed to its strongest level since August, now at 87.63 per US dollar.
This boost comes thanks to the Reserve Bank of India (RBI) stepping in and a tentative turnaround in foreign investment, which together have kept the currency steady and lifted market mood.
A stronger rupee can make imports cheaper
A stronger rupee can make imports cheaper—good news if you're buying goods from abroad—but it also means exporters have to be a bit more cautious.
Foreign investors are showing fresh confidence by buying up Indian shares, which helps support currency stability and investor sentiment even when global markets feel shaky.
The RBI has been actively working to stop the rupee
The RBI has been actively working to stop the rupee from sliding, especially around the 88 mark.
Plus, optimism about a possible US-India trade deal is attracting more foreign money.
All this is helping the rupee recover from recent lows, and if these trends hold, its strength could stick around.