Rupee up 49 paise, RBI governor says curbs to halt speculation

What happened: The rupee rose 49 paise to close at 95.28 per dollar from 95.77, after RBI measures to curb dollar demand and speculative positions. Why it matters: Malhotra said speculative activity was amplifying currency volatility instead of serving genuine hedging needs, with one-sided bets preventing market forces from determining the rupee's true value. The measures widened bid-ask spreads in the forwards market and shifted some activity to the non-deliverable forward market. Coverage: 3 outlets in 24h

Rupee rises 49 paise as RBI governor cites curbs to halt speculation.

Rupee rises 49 paise as RBI governor cites curbs to halt speculation. — impact context not separately stored; see What changed.