The Indian rupee surges 1% against US dollar after aggressive RBI intervention

The Indian rupee rose 1% against the US dollar following aggressive intervention and measures announced by the Reserve Bank of India, according to reports by and The Times of India.

Media reports highlighted the measures and steps announced by the RBI following the currency's movement.

For Indian-origin families in the U.S. remitting money to India, the exchange rate yields fewer rupees per US dollar.