Rupee set to slip after RBI's double strike fuelled biggest rally in six months
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The Indian rupee is expected to weaken after a significant rally last week, driven by the Reserve Bank of India's aggressive forex intervention. The rupee surged nearly 1% on Friday due to heavy dollar sales by the RBI, aimed at speculators. Traders are now assessing the potential for further RBI intervention. The rupee's recent performance was its best since June, with domestic flows and RBI actions being key drivers, while Asian market cues had limited impact.
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