Mumbai: The Indian rupee closed slightly weaker at 95.22 on Wednesday, as traders remained on the sideline ahead of the US Fed decision, while dollar demand and high oil prices continued to put pressure.
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The rupee had previously closed at 95.11. It traded between 95.25 and 95.00, with the RBI likely capping depreciation past the 95.25 levels. The RBI was also present in the non deliverable forwards market before the domestic marks opened.
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Rupee weakens on dollar demand, elevated crude oil prices
The Indian rupee closed at 95.22, reflecting a minor drop attributed to ongoing market pressures. With traders exercising caution ahead of the critical decision from the US Federal Reserve, the prevailing demand for dollars and high oil prices are weighing on the currency's stability. Throughout the trading session, the rupee oscillated between 95.25 and 95.00, with the Reserve Bank of India…
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