Economic TimesLean R·
Rupee ends nearly flat at 95.68 vs USD, wedged between oil swings, RBI intervention
On Thursday, the Indian rupee remained stable, closing at approximately 95.68 against the dollar. The currency faced pressure due to fluctuating oil prices and heightened demand for dollars from corporations. However, intervention from the central bank likely prevented it from falling past the critical 96 level. Traders mentioned that importer hedging also played a role in the rupee's recent depreciation, while global economic influences continue to bolster the dollar's strength.
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