India's rupee closed at 95.17, up 19 paise on Wednesday, its fourth consecutive session of gains as the Reserve Bank of India stepped in to ease near‑term dollar demand and curb speculative exposure.
The interbank market opened at 95.05, dipped to an intraday low of 94.76, and on Tuesday the rupee had strengthened 42 paise to close at 95.36, giving a cumulative four‑day gain of 171 paise.
A weak dollar and easing US Treasury yields helped lift the rupee, yet muted domestic equities capped the upward swing.
Forex traders flagged the rupee's one‑month high, while an analyst noted that RBI’s intervention is tightening speculative bets and should sustain a positive bias.
Ahead of the next policy meeting, market participants anticipate continued RBI involvement to keep the rupee on its upward path.