Rupee gains to 92.83 after West Asia ceasefire, RBI aid
Business
The Indian rupee ticked up to 92.83 against the US dollar on Monday, a small but welcome boost after recent lows.
This uptick follows news of a ceasefire in West Asia, giving markets some breathing room.
The rupee has been clawing back since late March, helped by the Reserve Bank of India stepping in to steady things.
RBI curbs trading, oil spikes
The RBI has kept the rupee from slipping further by cracking down on risky trading and asking state-run oil refiners to moderate their dollar purchases.
Still, it's not all smooth sailing: oil prices shot up again after fresh U.S.-Iran tensions and Iran walked away from talks.
With global uncertainty still high, traders said the rupee might hover between 92.50 and 93 for now.