Indian Rupee holds range as RBI counters oil pressure
The Indian rupee traded in a narrow range against the dollar supported by central bank intervention. Persistent external pressures from high oil prices and equity outflows continued to weigh on the local currency.
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India's rupee hovered near 95.12 per dollar on Tuesday, backed by central bank intervention amid persistent external pressures. The currency edged up less than 0.1% from the previous session's close of 95.1850. Higher oil prices and foreign equity outflows continue to strain the local currency, leaving it heavily reliant on official support.
