The Reserve Bank of India likely intervened in the foreign exchange market on Friday, three traders told Reuters, as the rupee neared its all-time low, with Brent crude oil prices rising past $100 per barrel amid the intensifying conflict in West Asia.The rupee was hovering around 96.70 per dollar on the interbank order matching system as of 08:55 a.m. IST, holding above its all-time low of 96.96 hit in May.State-run banks were spotted offering dollars, most likely on the RBI’s behalf, one of the traders said.Published on July 24, 2026
RBI likely steps in to avert rupee record low as oil surges, traders say
RBI may intervene as rupee approaches record low amid rising oil prices and Middle East tensions, traders report.
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