Rupee Strengthens as RBI Intervenes Amid Oil Price Drop
The Indian rupee strengthened slightly against the US dollar following a decline in oil prices by about 2% and intervention by the Reserve Bank of India (RBI). Despite oil remaining above $100 per barrel due to geopolitical tensions, RBI measures helped stabilize the rupee amid pressure from higher bond yields and a losing streak in India's stock market. Forward premiums are expected to cool the surge.
The Economic Times·13h ago


