RBI likely intervened to stabilize the rupee amid rising crude prices and geopolitical tensions, traders report.
India's central bank intervenes to limit rupee depreciation (95.47/$) as Brent crude rises ~$97/bbl amid US-Iran tensions. Rupee weakness pressures IT outsourcing and cloud costs for enterprises in India; geopolitical escalation creates budget uncertainty.
MUMBAI, June 3 (Reuters) - The Indian central bank
likely intervened in the foreign exchange market on Wednesday to
limit the rupee's fall, four traders told Reuters, as a rise in
crude prices on renewed U.S.-Iran hostilities pressured the
South Asian currency.The rupee was at 95.47 per dollar, down 0.2% on the
The Indian central bank likely stepped into the foreign exchange market on Wednesday. This action aimed to curb the rupee's…
Despite the interventions, traders reckon the pressure on the rupee will persist in the near term as capital flows remain weak…
The Reserve Bank of India likely intervened in the foreign exchange market to shore up the rupee ahead of the local spot…
The Indian rupee strengthened to close above 96 per dollar for the first time in a week, following aggressive interventions by…
RBI's $2 billion intervention strengthens the rupee, combating recent depreciation amid rising crude oil prices and market…
The Indian rupee remained stable on Wednesday, supported by central bank intervention in spot and forward markets. Dollar sales…
