Indian rupee ends flat amid oil and NDF maturity cues
The Indian rupee closed at 95.2650 per dollar on Wednesday as the central bank likely intervened to manage volatility from oil price swings and maturing forward contracts. Markets remained cautious following renewed military strikes in the Middle East and ahead of key U.S. inflation data.
Insights:
The India rupee rose marginally to 95.2650 per dollar on Wednesday as central bank intervention offset volatile oil prices. The currency moved within a range of 95.11 to 95.56 during the session. State-run banks conducted dollar-rupee buy/sell swaps to manage elevated dollar demand from maturing non-deliverable forward contracts.
