Rupee pressured by Iran talks impasse; RBI intervention a 'reliable' buffer
The rupee is expected to open slightly weaker, having settled at 95.8125 to the dollar on Friday, according to traders
The Indian rupee faced new challenges at the start of the trading week as stalled US-Iran talks caused oil prices to rise. The central bank may need to intervene to prevent further decline in the currency's value. The rupee opened slightly weaker on Friday at 95.8125 to the dollar, according to traders. The 96-per-dollar mark has become a critical level for currency traders over the past two weeks, with the Reserve Bank of India intervening repeatedly when the rupee approaches it.
So far, the RBI's actions have kept the rupee from falling past 96, despite facing pressure from higher oil prices, rising US Treasury yields, and a stronger dollar.
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- Rupee, bonds vulnerable to oil pangs on waning Iran diplomacy hopes thehindubusinessline.com
- Indian rupee pressured by Iran talks impasse; RBI intervention a 'reliable' buffer brecorder.com
