Categories: Business

RBI intervenes to support rupee as oil prices, dollar demand rise: Report

The Reserve Bank of India likely intervened in foreign exchange markets. Elevated oil prices and corporate dollar demand pressured the rupee. State-run banks offered dollars, indicating central bank action. The rupee remained range-bound for two weeks due to sustained intervention. Geopolitical tensions and equity market weakness also impacted the currency.

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2 months ago

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