RBI back to rupee's rescue to counter oil, Fed headwinds; steps into swaps too

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India’s central bank supported the rupee on Monday after oil prices surged. Rising U.S. interest rate expectations also pressured the Indian currency. The Reserve Bank of India’s intervention helped the rupee recover its value. This sustained presence insulated the rupee from adverse external developments. The central bank also conducted dollar-rupee swaps to cool swap rates.

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RBI back to rupee's rescue to counter oil, Fed headwinds; steps into swaps too

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