RBI likely intervenes to limit rupee's fall: Traders

Mumbai: The ​Indian ​central bank likely intervened ​in the foreign exchange market on Wednesday to limit ‌the rupee's ⁠fall, ⁠four traders told ​Reuters, as a rise in crude ​prices on renewed U.S.-Iran hostilities pressured ​the South Asian ⁠currency.

The rupee ‌was at ​95.47 ​per dollar, ⁠down 0.2% on the day.

State-run banks ​were spotted offering ​dollars near the 95.50 mark, a trader at a Mumbai-based bank said.


Renewed ‌hostilities in the Middle East sparked ​the ​third consecutive ⁠daily rise in oil prices, with Brent crude rising about ​1% to nearly $97 per barrel.