The Reserve Bank of India’s latest intervention drives the USD/INR pair down to near 96.50 after a muted start.
The Indian Rupee strengthened against the US Dollar on Friday, with the USD/INR pair dropping to near 96.50. The move followed renewed intervention by the Reserve Bank of India to stabilize the currency after a flat opening.
Earlier in the session, the Rupee showed little movement, but RBI action provided support. The central bank has frequently stepped in to curb volatility in the foreign exchange market amid global economic uncertainties.
No immediate market reaction was specified, though the intervention signals continued efforts to manage currency fluctuations.