Currencies

Currencies

Weekly Rupee Wrap: Indian Currency Settles Near 94.5 per Dollar as RBI Intervention, Oi‌‌l Crash Co‌‌un‌ter Fed Hawkish Fears

Mumbai, June 27: The Indian rupee had a volatile trading week, fluctuating between 94.24 and 94.90 per USD, as investors weighed a hawkish US Federal Reserve outlook and lower crude oil prices, and continued intervention by the Reserve Bank of India (RBI). Although the rupee tested new yearly lows, it did not breach the psychological 95-per-dola‌‌r mark, and end‌‌ed the week at 94.38–94.50, marginally weaker than last week’s close of 94.33. The currency showed resilience even when the US Dollar Index (DXY) rose to a 13-month high above 101, driven...
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