Rupee ends flat amid RBI intervention
The Indian rupee closed flat on Monday as Reserve Bank of India intervention countered pressures from a stronger dollar and elevated oil prices. Markets now await the central bank policy decision.
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The India rupee closed little changed at 96.2925 per dollar on Monday, supported by central bank intervention against global dollar strength. The currency held a tight range as rising energy costs and fiscal concerns weighed on emerging market assets. Persistent importer hedging keeps the South Asian currency vulnerable ahead of monetary policy decisions.
