After falling to record lows, rupee regains footing against US dollar

RBI's interventions and a less hawkish view on US Federal Reserve among factors that help currency

The rupee is holding ground after depreciating rapidly against the US dollar over the last seven weeks, as targeted interventions by the Reserve Bank of India (RBI) and other factors give it strength.

The Indian currency on July 21 fell to 80.06 against the dollar, breaching the psychologically significant 80 per dollar mark for the first time two days earlier.

But since then the rupee has not crossed that mark and instead gained ground. It was at 79.78 per dollar a little before 11am on Tuesday.

In two trading days since July 21, the domestic unit has strengthened 0.3 per