Rupee Surges 12 Paise to 89.51 Against US Dollar Amid RBI Liquidity Boost

• The Indian Rupee appreciated by 12 paise, reaching 89.51 against the US dollar in early trade.
• RBI's major liquidity announcement, totaling ₹3 lakh crore, significantly supported the rupee's strength.
• Weakness in the US dollar index and stronger Asian currencies also contributed to the rupee's gain.
• Experts anticipate the rupee to trade within the 89-90 range, with RBI actively managing volatility.
• Domestic equity markets saw gains, while Foreign Institutional Investors offloaded equities.

Why It Matters: Rupee strengthens on RBI liquidity injection and weaker dollar, with active central bank management.