Rupee Slips as Traders Test RBI Tolerance
The Indian rupee slipped against the US dollar as persistent external pressures from high oil prices and equity outflows prompted traders to test the central bank willingness to allow a measured currency decline.
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The rupee dipped to 95.22 per United States dollar during Tuesday morning trade as currency traders tested official tolerance for a controlled decline. The currency retreated from 95.1850 on Monday amid ongoing external pressures from high energy costs and capital outflows. Persistent central bank intervention remains the primary support for the local currency as markets reassess official policy thresholds.
