Rupee Holds Gain After Biggest Surge in 12 Years on RBI Moves

The Indian rupee edged up, extending its biggest rally in 12 years after the central bank doubled down on curbing speculation against the local currency.

The rupee closed 0.1% higher at 93.0612 per dollar after rising as much as 0.4% on Monday. The currency gave up some gains on dollar purchases by local importers and oil refiners, according to Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors.