Rupee ends nearly flat as traders remain glued to oil moves, RBI caps fall

Rupee hits two-month low, slips past 96 | What does it mean for the Indian stock market?

The Indian rupee fell to ₹96.1475 per dollar, a two-month low, due to rising oil prices and foreign investor outflows. Anticipated RBI interventions may stabilize the currency, but persistent oil price concerns could widen India's current account deficit and apply further pressure on the rupee.

Rupee ends nearly flat as traders remain glued to oil moves, RBI caps fall

The rupee had declined 0.2% ⁠to 96.1475 in early trading but trimmed losses to close nearly flat at 95.98 as Brent oil prices turned lower on the day, ‌after touching a peak of nearly $108 per barrel.

Rupee settles on flat note, up 2 paise at 95.95 against US dollar

The rupee settled on a flat note on Tuesday, just a tad over the psychologically important 96 per dollar level, driven by possible RBI intervention and a pull-back in oil prices following hopes of negotiations between the US and Iran.