New Delhi, April 2 -- The Indian rupee staged a sharp recovery on Thursday, strengthening significantly against the US dollar after the Reserve Bank of India's aggressive measures to curb currency speculation began showing results. Market participants and analysts quickly took note of the move, with Deepak Shenoy, CEO of Capitalmind Mutual Fund, highlighting the shift in trend.

"USDINR at 93.13 - looks like RBI's move has had an impact," Shenoy said in a post on X, pointing to the currency's sharp appreciation and signalling that the central bank's intervention may finally be working.

The rupee jumped 2% to 92.8350 per dollar, marking a strong rebound after recent weakness. This came after a turbulent start to the week, when the rupee h...