India’s rupee gained as the central bank garnered $136 billion under its capital-raising measures, far exceeding expectations and further boosting its war chest to defend the currency.
The rupee strengthened as much as 0.7% to 94.2713 per dollar on Thursday, its highest level in more than a month. The pair is trading below its 100-day moving average, with traders forecasting more gains as sentiment receives a boost from the massive inflows.
