The Reserve Bank of India likely intervened in the foreign exchange market on Tuesday to protect the rupee from pressure caused by elevated oil prices and sustained corporate demand for dollars, four traders told Reuters.

RBI intervenes to stabilize the rupee at 95.6425 per dollar amid global uncertainties, traders report.

The Reserve Bank of India likely intervened in the foreign exchange market on Tuesday to protect the rupee from pressure caused by elevated oil prices and sustained corporate…