RBI INTERVENTION

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The Indian rupee closed nearly unchanged on Friday as intervention from the Indian central bank prevented it from hitting a lifetime low even as a broadly stronger dollar pressured most Asian currencies.

The Indian rupee closed nearly flat on Wednesday even as dollar demand from local oil companies and other importers put pressure on the currency but likely intervention from the Reserve Bank of India helped avert a drop towards its all-time low.

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The Indian currency has been hovering near its record low of 83.5750, a level it reached in April. However, regular market intervention by the Reserve Bank of India has helped to curb further decline, according to traders. Last week's trading was no...

The Indian rupee ended weaker on Monday, weighed down by a rise in U.S. bond yields, but likely intervention by the Reserve Bank of India (RBI) helped limit the currency's losses.

The Indian rupee ended weaker on Thursday, pressured by dollar demand from local importers and foreign banks even as most of its Asian peers gained.

The Indian rupee closed stronger on Wednesday, partially recovering from its slump in the previous session, aided by dollar sales from foreign banks and likely intervention from the Reserve Bank of India.

The Indian rupee ended higher on Thursday, halting a three-day losing streak, supported by dollar inflows related to the rebalancing of the MSCI equity indices.

The Indian rupee closed higher on Friday after rising to its highest in two weeks, aided by likely intervention from the Reserve Bank of India (RBI) and broad-based interbank dollar sales in the latter half of the session.

The rupee was at 83.52 to the U.S. dollar at 11:06 a.m. IST, down from 83.50 in the previous session. India's Nifty 50 Index, adding to last week's decline, dropped nearly 1% to the lowest in three weeks.

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The Indian rupee closed nearly flat on Wednesday as expectations that the Reserve Bank of India would likely intervene to cap a sharp weakness supported the local currency despite a decline in its Asian peers.

A recent drop in foreign exchange reserves to $640.33 billion, a six week low, shows the central bank has been selling dollars amid conflict in the Middle East and delayed expectations for rate cuts by the U.S. Federal Reserve.

The Indian rupee fell to its weakest closing level on record, pressured by dollar demand from importers, while likely intervention from the Reserve Bank of India helped curb the local unit's losses.

The Indian rupee closed stronger on Tuesday, as likely central bank intervention and an uptick in Asian peers helped it recover from last week's record lows.

The local unit had hit an over six-month intraday high of 82.65, but the Reserve Bank of India (RBI) likely purchased dollars via state-run banks to prevent a significant appreciation in the rupee, traders said.

The rupee was at 82.7750 against the U.S. dollar as of 10:25 a.m. IST, up 0.05% compared with its close of 82.8225 in the previous session.