The Reserve Bank of India likely intervened in the foreign exchange market on Monday to support the rupee, four traders told Reuters, helping the currency withstand pressure coming from a broadly stronger dollar and volatile oil prices.
The rupee was at 96.24 per dollar, marginally higher from its close at 96.3150 in the previous session.
State-run banks were spotted offering dollars, most likely on behalf of the RBI, traders said. The dollar index was up 0.6% at 102.5, at its highest level in more than one year.
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RBI likely intervenes to support rupee, traders say
The Reserve Bank of India intervened in the foreign exchange market to support the rupee. This action was taken as the currency faced pressure from a stronger dollar and fluctuating oil prices. Traders reported that state-run banks were observed offering dollars, likely on behalf of the RBI. The dollar index increased to its highest level in more than one year. The rupee slightly strengthened…
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- The Economic Times
- Published
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- 102 words · 1 min
Where this came from
This story was reported and first published by The Economic Times on 5 October 2026. HUE Legacy Ventures did not write it.
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