Rupee Holds Steady Amid RBI Support and Oil Pressures
The Indian rupee closed flat on Monday, supported by central bank intervention that offset pressure from surging oil prices. State-run banks sold dollars to anchor the currency as Strait of Hormuz tensions lifted energy costs.
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The India rupee held steady at 94.4850 per dollar on Monday afternoon, propped up by central bank dollar sales amid rising energy costs. State-run banks intervened to anchor the currency, echoing a pattern of steady support.
