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Friday, December 20, 2024 | 11:12 PM ISTEN Hindi

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Rupee continues to rise on Fed Chair Powell's take on taper

Experts say RBI won't allow Rs to appreciate out of sync with Asian currencies

Rupee
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Illustration: Ajay Mohanty

Anup Roy Mumbai
The Indian rupee continued its good run amid assurance that the global liquidity glut will continue for a while and the US Federal Reserve (Fed) is in no tearing hurry to raise rates.

The rupee closed at 73.3 a dollar, up from its previous close of 73.7 a dollar. The rupee had closed strong on Friday ahead of the Jackson Hole speech of Fed Chairman Jerome Powell. The Reserve Bank of India (RBI) had not intervened on Friday.

On Tuesday, the central bank stepped in to stem the rising tide in rupee as dollars poured in onshore ahead of the quarterly index

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