Rupee jumps to 4-week high, ends at 95.16 to the dollar

The Indian rupee appreciated by twenty-one paise against the dollar on Monday, surprising traders with the sudden influx related to equity index movements. An early intervention by the Reserve Bank of India solidified the rupee's stronger position. Anticipated changes in MSCI rebalancing alongside raised stock weights are set to attract further capital inflows. Banks intensified their efforts to gather FCNR(B) deposits, reinforcing the RBI's stability.