Indian rupee hits three-week low on oil and dollar demand
The Indian rupee reached a three-week low due to higher oil prices and steady dollar demand. Reserve Bank of India intervention helped limit further losses near the 96 per dollar level. Markets now await upcoming central bank minutes.
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The India rupee fell to 95.7525 per dollar on Wednesday, hitting its weakest level since late July amid sustained corporate dollar demand. The dip pushed the currency closer to the psychological 96 per dollar threshold. Central bank intervention successfully capped further losses during the session.
