Indian central bank likely intervenes to limit pressure on rupee, traders say

MUMBAI: The Indian central bank likely intervened in the foreign exchange market yet again on Thursday, five traders told Reuters, to shield the rupee from pressure due to elevated corporate hedging and maturing derivative contracts.

The Indian rupee was at 95.6350 per dollar, up 0.1% form its previous close.

Indian central bank likely intervenes to shield rupee from oil strain, traders say

The South Asian currency had to lean on central bank intervention for support despite a rally in most of its Asian peers on the back of a broadly weaker dollar.