{
  "id": 13031824,
  "title": "RBI steps in to keep rupee from slipping to record low, traders say",
  "url": "https://urgent.news/2026/10/09/rbi-steps-in-to-keep-rupee-from-slipping-to-record-low-traders-say",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-09T04:44:38.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/forex/rbi-steps-in-to-keep-rupee-from-slipping-to-record-low-traders-say/article71562522.ece"
  },
  "original_language": "en",
  "account": "The Reserve Bank of India (RBI) likely stepped in on Friday to prevent the Indian rupee from plummeting to an all-time low, according to three traders speaking to Reuters. The rupee had been under pressure due to a combination of persistent portfolio outflows, rising oil prices stemming from the Iran war, and increased US Treasury yields.\n\nAs of early trading, the rupee was trading at 96.7575 per dollar, showing little change for the day but narrowly avoiding the record low of 96.96 that it had hit in May. State-run banks were reportedly offering dollars in the hours leading up to the opening of the local spot market, most likely acting on behalf of the RBI, the traders suggested.\n\nThe central bank had been actively engaged in the foreign exchange market over the past few sessions. However, the ongoing pressures from high oil prices, significant portfolio outflows, and higher US Treasury yields have continued to weigh on the rupee's value.",
  "summary": "State-run banks were spotted offering dollars right before the local spot market opened, most likely on behalf of the RBI, traders say",
  "key_points": [
    "Reserve Bank of India intervened to support rupee on Friday",
    "Rupee traded at 96.7575 per dollar, avoiding record low of 96.96",
    "RBI and state-run banks likely acted on forex market pressures"
  ],
  "editors_take": "The RBI's intervention suggests it is prioritising currency stability over allowing market forces to determine the rupee's value, at least for now, amid ongoing economic pressures.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}