RBI interventions and oil slide propel rupee higher for third day
TL;DR
The rupee strengthened for the third straight session, finishing at 95.23 per dollar after RBI dollar-sales interventions and a slump in Brent crude on hopes of a U.S.-Iran peace deal, with traders noting the RBI stands ready to intervene and the currency could move toward the 94.80–94.50 zone if oil and risk sentiment stay favorable.
- Oil slump, central bank support manifest in rupee’s three-day winning streak Reuters
- India Rupee May Be Undervalued, RBI Governor Tells Mint Bloomberg.com
- Rupee on recovery track: Currency jumps 40 paise to 95.2 against US dollar amid Middle East peace hopes The Times of India
- As rupee nears 100-per-US dollar mark, focus on inflation, energy bills Deccan Herald
- The RBI and rupee’s last line of defence India Today
Want the full story? Read the original reporting
Read on Reuters