Indian rupee opens at ₹94.30 as oil nears $72
RBI sells US dollars via banks 
With Brent crude nearly halved from its April peak, the Reserve Bank of India (RBI) stepped in by selling US dollars through nationalized banks to keep things steady.
Exporters also took advantage of better rates to buy US dollars during this window.
Even with tough global conditions like a strong US dollar and weaker Asian currencies, analysts say the rupee's stability is thanks to cheaper oil and RBI's timely actions, keeping currency swings in check for now.
Next Story