The rupee had rose to a six month high in mid May, LSEG data showed, but shed its gains due to tariff uncertainties and India-Pakistan war. Intervention by the RBI too prevented excess appreciation during May, traders said.
The rupee hit a one-week high as expectations of RBI measures to curb oil refiners’ dollar demand boosted sentiment and eased pressure on the currency.
Gold and silver prices opened higher on MCX as easing geopolitical tensions and US-Iran peace talk hopes influenced sentiment. Silver gained sharply while gold held
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