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Commodities

Rupee Gains On RBI Support Amid Global Headwinds

Guavy AI Editorial Team
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The Indian rupee opened 10 paise higher at ₹94.39 against the US dollar on Monday, September 7, due to the Reserve Bank of India's (RBI) recent intervention in the foreign exchange market.

The RBI's sustained presence has helped limit pressure from rising crude oil prices and a more hawkish outlook on US monetary policy, according to currency traders cited by Reuters.

Crude oil prices have pushed Brent crude closer to $97 per barrel due to escalating tensions between the US and Iran, which could widen India's import bill and increase demand for dollars, putting renewed pressure on the rupee.

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