Indian rupee ends at 95.17 after possible RBI intervention
Business
The rupee made a bit of a comeback on Monday, ending the day at 95.17 against the US dollar, up 26 paise.
It started off weaker but bounced back, likely thanks to possible RBI intervention, even as higher oil prices and talk of a US Federal Reserve rate hike were making things tricky.
RBI deposit scheme draws $73 billion
A big boost came from strong foreign money flowing in through an RBI deposit scheme, which has now pulled in $73 billion.
On the flip side, global oil prices jumped 3.70% due to tensions in the Middle East.
Even with the rupee's recovery, Indian stock markets had a rough day: Sensex dropped 307.24 points and Nifty fell 95.25 points by the close.