Rupee Extends Gains on RBI Intervention Amid Oil and Outflow Pressure
· Business · Bloomberg, WION
The Indian rupee strengthened for a second day on Tuesday, gaining 15 paise to settle at 83.77 against the US dollar after the Reserve Bank of India announced fresh support measures. The central bank intervened to stabilise the currency, which has been under sustained pressure from elevated crude oil prices and persistent foreign portfolio outflows. The RBI's action came as the rupee hovered near record lows, reflecting the ongoing challenge of balancing growth with currency stability.
Why it matters
The rupee's resilience directly affects import costs, inflation, and the purchasing power of everyday Indians, while also signaling to foreign investors the central bank's commitment to limiting volatile swings in the domestic currency.
Read the original report — Bloomberg
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