RBI intervenes to support rupee as oil prices, dollar demand rise: Report
The Reserve Bank of India likely intervened in foreign exchange markets. Elevated oil prices and corporate dollar demand pressured the rupee. State-run banks offered dollars, indicating central bank action. The rupee remained range-bound for two weeks due to sustained intervention. Geopolitical tensions and equity market weakness also impacted the currency.
We haven't written up this one. Times of India has the full story — the link below goes straight to it.
