Rupee rebounds! Currency recovers on likely RBI intervention after opening at 91.07 vs US dollar; biggest single-day gain in 7 months
Capital outflow due to FII activity has been driven by geopolitical uncertainty. Rupee stayed under pressure on Wednesday, opening at a record low of 91.07 against the US dollar, down 0.05% from its previous close, before clawing back part of its losses, likely supported by intervention from the Reserve Bank of India (RBI), Reuters reported.The…