Rupee edges up to ₹94.89 as RBI continues dollar sales
Business
The rupee kicked off Wednesday at ₹94.89 per US dollar, a tiny bump up from yesterday.
This small win comes thanks to the Reserve Bank of India, which has been selling dollars for over two weeks straight to keep the rupee steady, even as global factors like rising oil prices and US Treasury yields try to shake things up.
Analysts: Rupee support around ₹94.80-₹94.90
Oil prices jumped above $95.5 per barrel on Tuesday amid U.S.-Iran tensions, and US Treasury yields hit their highest since early 2025, making a Federal Reserve rate hike this month more likely.
Despite these hurdles, analysts say the RBI's interventions have helped the rupee outperform other Asian currencies lately, with strong support expected around ₹94.80-₹94.90 if things get rough again.