Indian Rupee Holds Flat on RBI Intervention
The Indian rupee traded nearly flat as persistent central bank intervention countered pressures from corporate dollar demand and rising oil prices. State-run banks engaged in dollar sales while swap operations helped cushion forward premiums.
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India's rupee traded nearly flat at 95.8050 per dollar during Tuesday's midday session, restrained by central bank intervention. The currency pared early gains of 95.66 following corporate dollar demand and rising energy costs.
