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Market move● Neutral for Indian equities
RBI likely intervenes to support rupee as it trades near 95.88 per dollar
The brief
- Rupee rose to 95.88 per dollar, paring its decline from 95.97 in early deals
- Traders said the RBI was likely to step in before market open to support the rupee
- India's forex reserves fall $14.89 billion to $766 billion
- Rupee and government bonds face pressure as oil rises and Iran diplomacy hopes fade
- FII Flows To Stay Subdued: Bernstein sees flat to modest inflows; rupee and valuations weigh
- RBI says resilient domestic economy cushions India against rising global risks
- Forex reserves drop $14.9 billion to $766 billion, sharpest weekly fall since November 2024