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Indian central bank intervention blunts oil surge, shores up rupee
The Reserve Bank of India aims to curb excessive rupee volatility but faces pressure from inflation. Read more at straitstimes.com. Read more at straitstimes.com.
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economictimes.indiatimes.com
Rupee languishes at two-month lows as supply worries raise oil prices
The Indian rupee hit a two-month low on Wednesday amid rising oil prices spurred by worries over Middle Eastern supply disruptions. In an effort to contain the rupee's decline,…
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RBI sold $6 billion in May to defend oil-hit Indian rupee, data shows
The Reserve Bank of India sold $6.1 billion in foreign exchange during May. This intervention occurred as oil prices surged, pushing the rupee to a record low. The central bank…
