Indian rupee rebounds after RBI intervention
after close1 source ↓written by the desknot a recommendation
- having lost
- 7% this year
- pulled from Indian
- $23 billion
The Indian rupee rose above ₹97 per USD following RBI intervention to stabilize the currency amid soaring oil prices. The RBI reportedly sold small amounts of dollars in the onshore market as the rupee faced pressure, having lost over 7% this year. This makes it Asia’s worst-performing currency, with a record $23 billion pulled from Indian stocks by global investors.
Not investment advice. For informational purposes only.