Rupee strengthens to 94.27 against dollar as RBI injects $136 billion

India's rupee has strengthened to 94.27 against the US dollar following a significant capital injection by the Reserve Bank of India. The central bank raised over $136 billion through specialized programs, bolstering its ability to support the currency.

The rupee has emerged as the second-best performing currency in Asia over the past month, driven by the RBI's measures aimed at managing outflows and stabilizing the exchange rate.