Rupee's RBI-spurred rally faces twin headwinds of oil volatility, Fed uncertainty

Rupee cushioned by state-run bank dollar offers as futures expiry bites

India's rupee rose to 95.72/USD as state-run banks sold dollars, with central bank intervention offsetting $2.7B in maturing futures. Dollar strength from Fed rate-hold expectations pressures rupee-denominated vendor contracts and IT outsourcing costs across Asia.