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RBI Measures To Curb Dollar Demand, Speculative Bets Support Rupee; Sensex Gains 305 Points
The Indian rupee strengthened 177 paise against the US dollar in two days to 94.06 following aggressive RBI market interventions. Key steps include a special dollar window for oil firms and tighter forex derivative rules to defend the Rs 97 level, though macro risks and FII outflows remain.
Rupee rises 91 paise to 95.80 after RBI measures curb volatility and curb dollar demand amid oil-price pressure.