Rupee stages strong comeback after hitting an all-time low on March 7

The country is also in a better position among emerging market currencies due to its $630-billion-plus foreign exchange reserves

The rupee has staged a stunning comeback after hitting an all-time low on March 7. It has appreciated 1.5 per cent against the US dollar in the last 10 days to become the best-performing currency in Asia.

In the last two days, the Indian currency has gained over 1 per cent. On Thursday, the rupee gained 0.61 per cent to close at 75.81 a dollar. This was the first time the rupee closed below 75 since it crossed the 76 mark on March 4.

A decline in crude oil prices from multi-year highs, along with the Reserve Bank of India’s intervention, was