RBI likely intervenes to limit rupee's fall, traders say

The Indian ​central bank likely intervened ‌in the foreign ​exchange market on Wednesday to limit the rupee's fall, ‌four traders told Reuters, ‌as a ‌rise in crude prices on renewed U.S.-Iran hostilities pressured the South Asian ​currency.

The ‌rupee was at 95.47 per dollar, down 0.2% ‌on the day.

State-run banks ​were spotted offering dollars ⁠near the 95.50 mark, a trader at ‌a Mumbai-based bank said.

Renewed hostilities in the Middle East sparked the ‌third consecutive daily rise ​in oil prices, with Brent crude rising about 1% to nearly $97 per barrel.

www.thehindubusinessline.com, dt. 03-06-2026