Rupee Ends Losing Streak With RBI Support

Economic Times · stocks

The Indian rupee ended its week-long losing streak on Friday, closing at 95.87 against the dollar. This recovery was attributed to reported dollar sales by the Reserve Bank of India (RBI) and a slight decrease in oil prices. Brent crude oil prices fell to nearly $101 per barrel. Despite a firm dollar index and importer demand, the rupee saw a slowdown in its decline, having weakened 1.05% this fiscal year.