Indian central bank likely intervenes to shield rupee from oil strain, traders say
MUMBAI: The Reserve Bank of India likely stepped into the foreign exchange market on Wednesday to shield the rupee from pressure due to persistently elevated oil prices amid uncertainty over the U.S.-Iran war. The rupee was on track for a quiet open and was hovering at 95.70 on the interbank order matching system before the local spot market opened at 9 a.m. IST. Indian rupee hits three-week low,…
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