Rupee Rises to One-Week High on Oil Drop
The Indian rupee strengthened to a one-week high against the dollar on Tuesday as oil prices pulled back. Central bank intervention also helped limit currency losses during the session.
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India's rupee rose 0.3% to an over one-week high of 95.41 per dollar on Tuesday afternoon, lifted by falling energy costs. The currency rebounded from a tight trading band after Brent Crude Oil slipped 3% to $89.20 per barrel. Central bank intervention earlier in the session helped curb volatility, keeping the unit steady against broader regional declines.
