Rupee snaps losing streak on RBI support, oil retreat
On Friday, the Indian rupee managed to break its losing streak, thanks to active dollar sales by the Reserve Bank of India and a decrease in oil prices. The currency closed at 95.87, reflecting a minor uptick from its previous closing value. Never...
By ET Bureau |
ET Bureau
The Indian rupee Friday broke its week-long losing streak amid reported dollar sales by the Reserve Bank of India (RBI) and a mild retreat in oil prices.
The currency closed at 95.87, versus its previous close of 95.93, while Brent crude oil prices fell to nearly $101 per barrel during the day, according to Reuters.
The currency traded in the range of 95.91 and 95.70, while a firm dollar index at 101.3 and importer demand for the US currency prevented the rupee from gaining significantly, traders said.
The currency has weakened 1.05% so far this fiscal, and the pace of its decline has drastically slowed following the near-10% retreat in FY26.
The currency closed at 95.87, versus its previous close of 95.93, while Brent crude oil prices fell to nearly $101 per barrel during the day, according to Reuters.
The currency traded in the range of 95.91 and 95.70, while a firm dollar index at 101.3 and importer demand for the US currency prevented the rupee from gaining significantly, traders said.
The currency has weakened 1.05% so far this fiscal, and the pace of its decline has drastically slowed following the near-10% retreat in FY26.
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