Neutral impactForex
Rupee holds firm at 94.97 as RBI intervenes with dollar sales
Economic Times 1 hr ago·3 Sept 2026, 12:58 am
The Indian rupee held steady at 94.97 against the US dollar, defying recent volatility. The Reserve Bank of India (RBI) is actively intervening in the currency market by selling dollars. This move is designed to prevent the rupee from weakening further and to maintain stability at the current level.
For investors, this central bank intervention is a key factor to watch. It signals the RBI's willingness to use reserves to support the rupee, which can help stabilize the broader financial market. While the currency is currently stable, the RBI's continued sales will be crucial in determining its future direction.
Investors should keep an eye on global oil prices and foreign fund flows. These external factors, combined with the RBI's intervention strategy, will largely dictate the rupee's performance in the coming days.
Excerpt from Economic Times
The Indian rupee remained above 95 against the dollar for a second day. Traders attribute this performance to aggressive dollar sales by the central bank. The rupee closed at 94.97, showing little movement during trading. This stability contrasted with a significant slump in equity markets. State-run banks likely sold…Read the original at Economic Times
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