Rupee recovers on RBI intervention talk

India's rupee recovered from a two-year low on Wednesday after the Reserve Bank of India announced measures to boost dollar supply and curb exchange-rate swings.

The currency snapped a six-day decline after the Indian central bank said on Tuesday that it will sell dollars and raise interest rates on locally-held foreign-currency deposits to attract money from abroad.

The central bank said it plans to sell dollars through its agent banks or directly to meet demand- supply gaps after the rupee