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[Indian Rupee Fluctuates Amidst RBI Intervention and Forecasted Weakening] The Indian rupee experienced its largest single-day gain since March 2023 on Tuesday, before ending at 86.89 on Wednesday, prompting intervention from the Reserve Bank of India estimated at $11 billion over two days. However, analysts from DBS Bank Ltd. and IDFC First Bank Ltd. predict the rupee will weaken to 88.8 and 89.5 per dollar by mid-2025 and December 2024 respectively, due to anticipated policy easing, rate cuts following a five-month low in January inflation, and potential pressures from a stronger dollar and $10 billion in foreign equity outflows this year.
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