Rupee Slips 4 Paise to 95.74 as $92.45 Crude and Importer Demand Weigh
Updated
Updated · The Hindu · Aug 25
Rupee Slips 4 Paise to 95.74 as $92.45 Crude and Importer Demand Weigh
3 articles · Updated · The Hindu · Aug 25
Summary
95.74 per dollar marked the rupee's early Tuesday level, down 4 paise from Monday's 95.70 close after trading in a narrow range.
Brent crude at $92.45 a barrel and importer demand for dollars pressured the currency, while renewed Iran-related uncertainty lifted safe-haven demand for the U.S. dollar.
RBI intervention through state-run banks helped cap the decline, with traders saying USD/INR has stayed boxed around ₹95.50-96.00 for about two weeks.
The dollar index edged up 0.04% to 99.04, while Indian equities opened weaker even as foreign investors were net buyers of ₹1,181.66 crore on Monday.
Separately, the RBI's special USD-INR swap facility had drawn $73 billion in forex inflows by Aug. 21, underscoring broader support for India's external funding.