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RBI Intervention shields rupee in face of oil, hedging strain
On Friday, the Indian rupee dodged a plunge to record lows thanks to decisive action by the Reserve Bank of India. State-run banks stepped in to sell dollars, likely under central bank directives, to alleviate mounting pressure. Escalating oil prices and increased corporate hedging had nearly pushed the currency to historic lows.
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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…
