Indian Rupee Holds Steady Amid RBI Intervention
The Indian rupee remained trapped in a narrow range on Tuesday as persistent intervention by the Reserve Bank of India countered sustained corporate dollar demand. Speculative interest stayed muted while Asian currencies traded mostly rangebound.
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The India rupee held steady at 95.70 per dollar during Tuesday morning trading, confined to a sub-5 paisa range by central bank intervention. Sustained corporate dollar demand ran into resistance from monetary authorities, muting speculative interest.
