Rupee Rebounds Past 95 Per Dollar As RBI Measures Curb Volatility | Gaurav Sharma Explains Market Outlook

The Indian rupee has strengthened past the 95-per-dollar mark, opening at 94.98 after gaining 175 paise in three days. The recovery follows key measures by the Reserve Bank of India (RBI), including direct dollar supplies to state-run oil refiners and a 20% foreign exchange risk reserve requirement on banks for large dollar purchases. Gaurav Sharma, Vice President and Head of Research at Globe Capital, explains how these steps are affecting the currency market. The discussion also examines potential profit-taking in equities after the Nifty's sharp rally and the outlook for Indian markets. Like, Share, and Subscribe to Business Today.