Indian Rupee Finishes Flat After Two-Week Low
The Indian rupee recovered from a two-week low to end virtually unchanged as central bank intervention and lower oil prices countered persistent dollar demand. Softer crude prices also supported local equities and bond yields ahead of key US inflation data.
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India's currency rebounded from a two-week low to end Thursday virtually unchanged at 95.26 per dollar, cushioned by central bank intervention and falling oil prices. The session's low of 95.22 marked the weakest level for the rupee since October 12, driven by clustered dollar demand. The late recovery prevented a deeper slide as traders weighed regional geopolitical developments against monetary policy outlooks.
