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Commodities

Rupee Closes Near Flat After RBI Intervention

Guavy AI Editorial Team
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Oil
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The Indian rupee appreciated by 19 paise to close at 95.80 against the US dollar on Friday, September 25, despite persistent pressure from elevated crude oil prices and a firm dollar index at 101.

The Reserve Bank of India stepped in with dollar sales and sell-buy swaps to stabilize the currency, which had fallen to a one-week low of 95.9550 on Thursday.

Brent crude prices surged to $106.88 per barrel on Thursday before easing to $105.40 per barrel on Friday, providing some relief to the rupee.

The RBI's actions, along with reports of potential US-Iran diplomatic negotiations, helped the currency recover from its weakest trading day and end the week nearly flat.

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