✉news BusinessBanking first seen 3 h ago, last 56 min ago, peak #16
RBI suspected of propping up rupee as oil prices climb
Original: Indian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders say
Traders believe India's central bank, the Reserve Bank of India, is intervening in currency markets to support the rupee. Pressure on the currency has mounted after stalled US-Iran negotiations pushed oil prices higher, threatening to widen India's import bill. The bank has not commented on the suspected intervention, which is a routine part of its currency management.
Why now: Rising oil prices from the US-Iran standoff are straining the rupee, prompting speculation about RBI intervention.
Reserve Bank of IndiaRupeeIndiaIranUnited States
Evidence
- Indian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders say · tradingview.com
- Indian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders say · marketscreener.com
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