Currency Buzz: INR strengthens near 93 per US dollar on RBI measures

The Indian rupee saw an excellent rebound on Thursday, rising sharply against the US dollar in early trading. The sudden gain came after the Reserve Bank of India (RBI) took steps to control volatility in the foreign exchange market. INR is up 150 paise at 93.17 per US dollar despite heavy selling pressure in local equities. With this spike, the rupee has recovered significantly after testing a record low above 95 per US dollar mark earlier in the week.

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