Rupee closes at 94.4850 per US dollar as RBI intervenes
Business
On Monday, the Indian rupee closed at 94.4850 per US dollar, holding firm within a tight range.
This stability came thanks to state-run banks selling dollars, most likely for the Reserve Bank of India, to cushion the blow from climbing oil prices.
Bankers estimate the RBI sold at least $8 billion last week to keep things calm despite global challenges.
Brent hits $96.6, Asian markets mixed
Brent crude hit $96.6 a barrel after disruptions in the Strait of Hormuz, with Goldman Sachs warning it could reach $120 if tensions grow.
While Asian currencies moved mixed and Indian stocks dipped 0.6%, AI-driven gains pushed MSCI's broader Asian stock index up nearly 2%.
Everyone's watching for US inflation data on Friday, which could mean another Fed rate hike soon.