Market News
Rupee extends intervention-spurred gains, hits near two-week high - REUTERS
MUMBAI, Feb 12 (Reuters) - The Indian rupee rose on Wednesday, hitting a nearly two-week high and extending its two-day rally spurred by central bank intervention, which analysts reckon may have forced the liquidation of bearish positions on the currency.
The rupee strengthened to 86.47 in early trading, its strongest level since late January, and was last quoted at 86.64, up around 0.2% on the day.
The currency posted its largest single-day gain in nearly two years on Tuesday, boosted by significant intervention by the Reserve Bank of India.