Indian rupee opens at 95.73 as oil rebounds above $93
Business
The Indian rupee opened at 95.73 against the US dollar on Tuesday (August 25), just a touch lower than yesterday.
Oil prices, always a big deal for the rupee, have bounced back above $93 per barrel thanks to ongoing U.S.-Iran tensions, which keeps things interesting for currency watchers.
RBI intervention, $2.5B into Indian stocks
The Reserve Bank of India (RBI) has been actively stepping in to keep the rupee from swinging too much, holding it within a pretty tight range lately.
There's also been a boost from foreign investors putting over $2.5 billion into Indian stocks in August, a welcome change after months of money flowing out.
Still, high oil prices and the sporadic maturity of derivative contracts mean the rupee isn't out of the woods yet, and even bond yields are shifting.