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Indian rupee pressured by Iran talks impasse; RBI intervention a 'reliable' buffer
MUMBAI: The Indian rupee faces new headwinds at Monday’s open with stalled US-Iran talks pushing oil prices higher, while central bank intervention is likely to cushion the currency’s decline. The Indian rupee is expected to open slightly weaker, having settled at 95.8125 to the dollar on Friday, according to traders. For currency traders, the 96-per-dollar mark has become an increasingly important level over the past two weeks, with the Reserve Bank of India repeatedly stepping in when the currency approaches it. The central bank’s intervention has so far kept the rupee from sustaining a...
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