How mere PM Modi Sunday meeting plan rescued Indian rupee
Expectations of an economic package following the news of Prime Minister Narendra Modi’s plans of holding a review meeting on the economy and the currency on Sunday saw the rupee surging 83 paise to 71.86 per dollar in late afternoon trade - one of the strongest rallies in nearly 18 months.
Forex traders said Reserve Bank of India (RBI) was also present in the market, selling close to $1-1.5 billion that helped the rupee shave off losses. Image source: DNA