Rupee Recoups Losses After RBI Intervention

Business Standard · stocks

The Indian rupee recovered all intraday losses to close flat at 95.99 per dollar on Tuesday, after briefly falling below the 96 mark. The Reserve Bank of India's intervention through dollar sales, coupled with a drop in global crude oil prices and foreign inflows from equity index rebalancing, aided the recovery. The currency had touched an intraday low of 96.15 per dollar. The rupee's future movement is expected to be influenced by oil prices and global risk sentiment.