The Indian rupee climbed the most in over 12 years after authorities stepped up their push against speculation, extending curbs to offshore derivatives just days after tightening limits on banks’ local positions.
The rupee advanced as much as 1.8% to 93.1738 per dollar on Thursday — the most since September 2013 — as currency trading resumed after a two-day break. The gains came despite a broad weakness in most regional currencies as US President Donald Trump signaled an escalation in the Iran war.