Rupee Strengthens to 94.95 per Dollar Ahead of US CPI: What It Means for BTC and XRP in India
- —Rupee strengthened to 94.95 per dollar, up about 2% from last week's lows
- —RBI introduced a special dollar window for oil firms and a 20% forex risk reserve on derivatives above $2 million
- —BTC traded at $83,216 and XRP at $1.37 at press time
- —A 1% BTC gain with a 2% USD/INR drop cuts the BTC/INR return to roughly -1%
Why it matters: For Indian traders, a stronger rupee offsets dollar-denominated crypto gains and amplifies losses when prices fall.
Source: Cryptonews.net