RBI Intervenes to Shield Rupee from Dollar Pressure, Traders Say

Traders report the Reserve Bank of India (RBI) intervened in the foreign exchange market on Thursday to support the Indian rupee. The rupee traded at 95.6350 per dollar, up 0.1% from its previous close, despite underlying pressure. This action aimed to counter elevated corporate hedging, maturing derivative contracts, and shield the currency from oil-related strains. Such central bank interventions in a major regional economy could signal broader efforts to manage currency stability against the US dollar, potentially influencing sentiment for the Pakistani Rupee and international gold prices.

بحوالہ / Source: www.brecorder.com