Rupee Surges to 95.72 Against Dollar as RBI Interventions Support Currency

The Indian rupee has been gaining strength for the third consecutive day, reaching an exchange rate of 95.72 against the US dollar.

This upward momentum is attributed in part to interventions by the Reserve Bank of India (RBI), which have helped prevent sharper declines and provided a floor for the currency.

However, investors are keeping a close eye on potential pressure from rising global oil prices and upcoming signals from the US Federal Reserve regarding interest rates.

The recent volatility in international crude oil prices has seen benchmark Brent Crude climb by $3.46 to reach $87.55 per barrel, representing a 4.11% increase.