The Indian rupee gained strength on Monday, appreciating by 0.1 per cent to 84.30 against the US dollar. This marks the rupee's best performance in over two weeks, driven by positive developments in the global market and anticipated dollar inflows. The decline in the US dollar index and US Treasury yields provided relief to the rupee. Additionally, the appointment of Scott Bessent as the US Treasury Secretary has calmed market sentiment. Despite these positive factors, the rupee has been under pressure in recent months. The Indian central bank has intervened to stabilise the currency, but this has led to a decline in India's foreign exchange reserves to a four-month low of $657.89 billion. Attribution: Reuters Subediting: M. S. Salama
