Rupee falls for week on oil prices
The Indian rupee declined over the week as rising oil prices pressured the currency, though Reserve Bank of India intervention kept losses contained. Central bank support and strong inflows helped stabilize the exchange rate near 95.69 per dollar.
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The Indian rupee dipped 0.3% over the week to close at 95.69 per dollar on Friday afternoon, pressured by surging oil prices. Frequent central bank interventions prevented sharper losses for the currency. The defensive measures kept the exchange rate stronger than the psychologically key level of 96 per dollar.
