India, April 6 -- The Indian rupee appreciated by 14 paise to close at 93.04 against the US dollar on Monday, supported by measures taken by the Reserve Bank of India to curb speculative activity and reduce volatility.
The central bank tightened norms by capping banks' net open positions at USD 100 million, helping stabilise the currency.
However, underlying pressure persists due to continued foreign fund outflows, a stronger dollar, and rising crude oil prices amid geopolitical uncertainties.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....