The rupee rose 50 paise to 92.56 against the greenback in early trade on Wednesday after the US and Iran agreed to a 2-week ceasefire.
On Tuesday, the rupee depreciated by 10 paise to close at 93.00 (provisional) against the US dollar as investors remained on edge.
The Reserve Bank’s rate-setting panel began its three-day brainstorming session on the first bimonthly monetary policy of the fiscal year on Monday.
The decision of the six-member Monetary Policy Committee (MPC), headed by Reserve Bank Governor Sanjay Malhotra, will be announced on Wednesday.
More to follow…
