RBI Intervenes to Stabilize Rupee Amid Oil Price Surge

  Published 9 months ago

RBI sold dollars to support the rupee amid the oil price surge from Israeli-Iranian strikes, stabilizing it at 86.04.

  • Indian rupee dropped to 86.20 before recovering to 86.04 after the RBI's dollar intervention.
  • RBI sold dollars near 86.05 through state-run banks, per traders' reports, to curb rupee decline.
  • Oil prices surged after Israeli strikes on Iran, pressuring the rupee before the RBI intervention.

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