Rupee posts biggest one-day gain in over 12 years, closes at 93.10 against dollar

The Indian rupee on Thursday recorded its biggest one-day gain in over 12 years. The currency surged 2% to a peak of 92.83 against the US dollar, rebounding from a record low of 95.21 hit in the previous session, before closing at 93.10. The rally follows RBI measures to curb arbitrage and speculative trades betting against the rupee.