Rupee extends gains as dollar slides; forward premiums hit one-month low
Traders cited bids from importers and state-run banks as capping gains, with speculation that the RBI may be buying dollars to rebuild forex reserves, now at a near five-month high of $677.8 billion. | Photo Credit: The Indian rupee extended its winning streak on Monday as the dollar remained on the defensive, with investor confidence in U.S. assets dented by President Donald Trump’s criticism of the Federal Reserve chief.The rupee closed at 85.1275 against the U.S. dollar, up 0.3% on the day. The local unit touched an over two-week high...