Indian Rupee Soars: Best Close in Weeks, Outperforms Asian Peers

• Indian Rupee closed at 89.6525 against US dollar on December 19, its highest in over two weeks.
• The strong comeback is attributed to heavy intervention by the Reserve Bank of India (RBI) in recent days.
• Rupee appreciated 0.67% in a single day, emerging as the best-performing currency among Asian peers.
• RBI intervened to stabilize the currency after it hit record lows, crossing the 91-mark, raising inflation concerns.
• Experts predict future movement based on RBI meeting minutes, dollar movement, and FII flows; expected range 89-90.

Why It Matters: RBI intervention drives Indian Rupee to a two-week high, outperforming Asian currencies.