Indian rupee ends flat as RBI intervention offsets dollar demand
The rupee ended flat on Tuesday as RBI intervention offset dollar demand. Markets remain cautious as crucial geopolitical peace talks begin today in Geneva.
The Indian rupee (USD/INR) finished nearly unchanged on Tuesday as the Reserve Bank of India conducted intermittent intervention in the foreign exchange market. This action by the central bank slowed the currency's drift toward the psychologically important 91-per-dollar level. The intervention is a significant factor in maintaining near-term currency stability and influencing the hedging demand of importers, while also shaping broader market dynamics.
