Rupee holds steady amid RBI moves and lower oil prices
The rupee closed at 95.69 as central bank intervention and lower oil prices offset pressure. Markets remain focused on the upcoming RBI policy decision.
Xurve View
Insights:
Xurve View
The India rupee had a muted Wednesday, closing unchanged at 95.69 per dollar as central bank interventions offset selling pressure. The currency recovered from an intraday low of 95.80 after state-run banks sold dollars to defend the level. Stable exchange rates are critical for India to manage imported inflation as energy costs fluctuate.
