Symbolic imageRupee jumps 1% after RBI steps up its defence
The rupee rose 91 paise to 95.80 per dollar in early trade on Monday, a gain of about 1%, after the RBI redirected oil dollar demand and raised the cost of some FX hedges, Reuters and The Hindu report. Indian debt funds are set to extend a $4.5 billion bond selloff after the policy shift, The Hindu reports, and banks are seeking relief and clarity, according to Reuters sources.
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