Economic TimesLean R·
RBI intervention, oil price dip help rupee edge modestly higher
The Indian rupee closed stronger on Thursday, supported by central bank intervention. Lower oil prices also helped soothe Indian equities and bonds during trading. Asian currencies were mostly firmer, while the dollar index hovered near the 101 mark. Volatility expectations for the rupee increased slightly after recent Middle East fighting. Policymakers' steps to shore up dollar flows tempered depreciation wagers.
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