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Markets

India central bank likely steps in to stem Indian rupee's oil, outflow-driven fall, traders say

  • RBI likely intervened to support the rupee, which recovered to 95.07 per dollar after hitting a session low of 95.2250
Published Updated
Photo: Reuters
Photo: Reuters
By

MUMBAI: The Reserve Bank of India likely stepped into the currency market on Wednesday, with the rupee coming under pressure from rising oil prices and dollar outflows, traders said.

The Indian rupee recovered to 95.07 per dollar following the intervention, after hitting a session low of 95.2250.

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