Reserve Bank of India dollar sales keep rupee at 95.44
Business
The Indian rupee ended Thursday almost unchanged at 95.44 against the US dollar, thanks to the Reserve Bank of India (RBI) stepping in with dollar sales to steady things.
Even with oil prices and some debt outflows making it tough, the currency managed to hold its ground.
Dealers see 95.25-95.75 range
Throughout the day, the rupee barely budged, moving within just a 10-paise range.
State-run banks helped keep things stable, and traders avoided big moves as volatility dropped to its lowest since early March.
Dealers expect this cautious vibe to continue, with the rupee likely sticking between 95.25 and 95.75 on Friday as everyone keeps an eye on RBI intervention.