Rupee edges up on RBI support, softer oil prices

Mumbai: The Indian rupee closed slightly stronger Thursday on the back of reported interventions by the Reserve Bank of India (RBI) and a modest retreat in oil prices, traders said. The currency closed at 95.93, little changed from its previous close of 95.95, according to Reuters.

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Oil prices cooled to around $103 per barrel, from around $107 per barrel the previous day, which also supported bond yields. The 10-year benchmark bond yield closed at 7.04%, versus its previous close of 7.06%, CCIL data showed.


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The rupee traded in the range of 96.10 and 95.78 during the day, with state-run banks actively selling dollars at levels weaker than 96, traders said. The dollar index increased to 100.17, from 99.65 a day earlier. -Our Bureau