Rupee ends nearly flat as central bank intervention blunts oil strain

On Thursday, the Indian rupee hovered close to a two-month low, influenced by potential intervention from the central bank to counteract rising oil prices. Brent crude oil approached the $100 per barrel mark following recent Houthi attacks, raising fears about India's economic stability. In light of these developments, investors have increasingly taken short positions against the rupee due to the mounting risks.