RBI Intervention Shields Rupee in Face of Oil, Hedging Strain

RBI, Govt Measures Could Turn India's Balance of Payments Surplus, Ease Pressure on Rupee: HDFC

Get latest articles and stories on Business at LatestLY. India's balance of payments (BoP) could return to a small surplus instead of recording a third consecutive annual deficit following a series of measures announced by the Reserve Bank of India (RBI) and the government in June, according to HDFC Mutual Fund's July report. Business News | RBI, Govt Measures Could Turn India's Balance of Payments Surplus, Ease Pressure on Rupee: HDFC.

Intervention shields rupee in face of oil, hedging strain

RBI Intervention shields rupee in face of oil, hedging strain

On Friday, the Indian rupee dodged a plunge to record lows thanks to decisive action by the Reserve Bank of India. State-run banks stepped in to sell dollars, likely under central bank directives, to alleviate mounting pressure. Escalating oil prices and increased corporate hedging had nearly pushed the currency to historic lows.

RBI ramps up rupee support across markets as currency faces pressure, traders say

RBI intervenes in markets to support the rupee as it faces pressure from rising oil prices, traders report.

Why Indian Rupee edges up on Thursday despite rallying oil prices?