Rupee Faces Oil Test After RBI Driven Rally
The Indian rupee faces a test from rising oil prices after rallying to a two-month high. Strong RBI intervention and massive capital inflows have supported the currency this week.
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The Indian rupee rallied 0.5% in Thursday morning trade to settle at 94.4850 against the dollar, driven by central bank intervention and $136B in special-scheme inflows. It marked the currency's strongest weekly advance in two months.
