Rupee posts biggest single-day gain in 2 months, ends below 95 against USD

The rupee rose 84 paise, ending below 95 against the US dollar on June 4, recording its strongest single-day rise in over two months to hit its highest mark in a month. This will help reverse pressure from high foreign outflows and oil prices. This comes after RBI scrapped capital gains tax for foreign investors on sale of government securities.