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RBI steps in to lift rupee 22 paise as Brent crude crosses $100/barrel

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The Indian rupee gained 22 paise against the US dollar in early trade, supported by the Reserve Bank of India's intervention in currency markets. The recovery came despite Brent crude oil prices crossing the $100-per-barrel threshold, driven by escalating Middle East tensions and disruptions to shipping routes. Foreign institutional investors continued to pull money out of Indian markets, while domestic equities remained weak, limiting further gains for the rupee. The combination of global risk factors and capital outflows had put pressure on the currency before the central bank stepped in to stabilize it.

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RBI steps in to lift rupee 22 paise as Brent crude crosses $100/barrel · ShortSingh