Despite the interventions, traders reckon the pressure on the rupee will persist in the near term as capital flows remain weak and uncertainty over the Middle East conflict keeps oil prices volatile

The rupee closed at 94.99 per dollar, almost unchanged from its close at 95.00 on Friday.

The Indian rupee held steady against the dollar on Monday. State-run banks sold dollars, supporting the rupee. Foreign exchange markets are now focused on upcoming US non-farm…