Rupee Holds Steady as RBI Offsets Oil Pressures
The Indian rupee traded in a tight range near 95.67 per dollar on Monday. Sustained central bank interventions offset dollar demand driven by elevated oil prices. Asian currencies remained mostly rangebound amid ongoing market caution.
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The India rupee traded in a tight band during Monday morning trade, holding at 95.6675 per dollar as central bank interventions offset dollar demand from elevated oil prices. The currency moved in a narrow range compared to its previous close of 95.6950 per dollar. Sustained central bank intervention has compressed volatility across domestic currency markets over the past two weeks.
