Rupee's sudden gains have traders speculating RBI is easing grip

The Indian rupee’s outsized gains over the last three sessions is spurring talk that the Reserve Bank of India may have loosened its grip over the currency. 
 

The rupee has rallied 1.6% in the previous three sessions to post its biggest gain for the period since March 2

020. The exchange rate had been moving within a range of 74-75 per dollar in the past two months. It edged higher on Wednesday to its strongest level since June.  

The RBI has previously said its currency interventions are aimed at soothing volatility. However, traders believe the central bank has been mopping up large