Rupee set to rally at open as oil slides below pre-Iran war levels, bucking Asia weakness
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The Indian rupee is expected to open firmer in the 94.25-94.30 range as Brent crude slides below pre-Iran war levels, with RBI intervention supporting the currency against broad Asia weakness, Reuters reports in an opinion piece, passing along the gist of it here. Summary: The In
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4 itemsRupee trims gains as RBI holds rates, oil slides and USD/INR rebounds from monthly low - VT Markets
RBI said to be likely stepping into the market to try and limit the rupee's fall
The Indian rupee is under pressure as the Reserve Bank of India (RBI) is reportedly stepping into the foreign exchange market to mitigate its decline against the US dollar. Per the full note from investinglive.com, the USD/INR pair has been climbing, driven by rising oil prices and a deteriorating economic outlook for India. The RBI's interventions, however, have yet to stabilize the rupee, which reflects broader concerns about India's economic resilience amid external shocks. The desk views this as a critical moment for the rupee, particularly as oil prices remain volatile and geopolitical tensions persist.