Archive · Business Recorder
Indian rupee soothed by intervention, surge in forward premiums tipped to cool
MUMBAI: The Indian rupee closed modestly stronger on Friday, aided by an easing in oil prices and the dollar after a searing rally in both kept up the pressure on the local currency through the week, eliciting central bank interventions to avert sharp falls. The Indian rupee closed at 95.8125 per dollar, up slightly from its close at 95.9550 in the previous session. The currency was little changed on the week. Oil prices fell about 2% on Friday, though remained north of $100 per barrel as investors weighed attacks against Saudi Arabia by Houthi fighters against the possibility a truce between ...
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