India, March 5 -- The Indian Rupee recovered from its lowest level to settle 45 paise higher at 91.60 (provisional) against the United States Dollar on Thursday, supported by buying in domestic equity markets and reports of intervention by the Reserve Bank of India.
Forex analysts said the central bank appears to have stepped in to curb excessive volatility in the local currency amid uncertainties linked to the ongoing conflict involving the US, Israel and Iran.
However, a strong dollar, rising crude oil prices, and heavy outflows of foreign funds continued to exert pressure on the rupee, they added.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....