Rupee Falls 10 Paise To 94.66 Against US Dollar As Crude Nears USD 97
6 Articles
6 Articles
Rupee ends flat, hemmed in by RBI intervention, oil pangs
The Indian rupee remained steady on Monday, supported by central bank intervention. Rising oil prices and concerns over energy flows also influenced currency markets. The Reserve Bank of India sold dollars to maintain the rupee's value. Traders anticipate Federal Reserve rate hikes after recent labor data. Market focus now shifts to upcoming inflation data releases.
Indian Rupee falls 10 paise to 94.66 against US dollar as crude USD 97 - Connected to India News I Singapore l UAE l UK l USA l NRI
At the interbank foreign exchange market, the Indian rupee opened at 94.49 against the US dollar, then touched 94.66, registering a fall of 10 paise from its previous close. The post Indian Rupee falls 10 paise to 94.66 against US dollar as crude USD 97 appeared first on Connected to India News I Singapore l UAE l UK l USA l NRI.
Key takeaways To stabilize the rupee, the Reserve Bank of India (RBI) significantly increased its market activities last week and sold an estimated 8 (6.9) to 15 billion dollars (12.9 billion euros) in foreign exchange, Reuters reports. Large inflow The intervention was supported by a massive inflow of more than 136 billion dollars (117.1 […]
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