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Asia

Rupee clings to two-week high as oil slides, intervention helps cement rise

Markets-Economic Times · 1h ago · 🇮🇳 India

Rupee clings to two-week high as oil slides, intervention helps cement rise

The Indian rupee experienced a significant rebound on Tuesday, intensifying to its strongest position in two weeks. The decline in oil prices and the potential intervention by the central bank played crucial roles in this uplift, with state-run banks actively selling dollars to stabilize the currency. The Reserve Bank of India showed its commitment through daily interventions since Friday, signifying its intolerance for further currency dip.

Read the full story at Markets-Economic Times →

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