Rupee rose the most in two weeks on speculation RBI would raise borrowing costs for a third time this year to curb inflation, making local assets more attractive to investors seeking higher yields.
The currency strengthened for a third day as a government report today showed inflation unexpectedly accelerated in May.
The rupee climbed 0.75 per cent, the most since May 28, to 46.49 a dollar as of the 5:00 pm close in Mumbai. That pared its losses for this quarter to 3.4 per cent, still the second-worst performance among Asian currencies, after South Korea’s won.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app