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(02/04/2026 16:53)

Rupee surges 1.6% to settle at 93.14 against US Dollar after RBI measures

The Indian rupee recorded one of its sharpest single-day gains in recent years, appreciating 156 paise to settle at 93.14 (provisional) against the US dollar on Thursday, supported by a series of measures announced by the Reserve Bank of India to curb speculative activity in forward markets.

During the session, the currency opened at 94.62 and surged as much as 188 paise to hit an intra-day high of 92.82 against the greenback before trimming some gains.

Despite the strong rebound, the rupee continues to face pressure from sustained foreign capital outflows, a strengthening US dollar, and rising crude oil prices amid ongoing geopolitical uncertainties, according to forex analysts.
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