USD/INR hits a fresh 10-day high at 95.47 as oil extends its rally on intact US–Iran tensions. RBI still intervening in spot and NDF; FCNR mobilisation stamped at $136.38bn.
The rupee extended losses on Thursday as firmer oil and intact US–Iran tensions kept dollar demand elevated.
The Indian Rupee hits a fresh 10-day low amid boiling oil prices, with USD/INR posting a fresh 10-day high at 95.47 (technical section also stamps 95.47); 20-period EMA at 95.14.
Oil prices extend their rally as US–Iran tensions remain intact; MCX crude trades 0.5% higher, closer to its over three-month high of Rs. 9,189. The RBI continues to intervene in spot and NDF markets to support the rupee against one-way excessive depreciating moves. Separately, the RBI disclosed earlier this month that it had raised $136.38bn through its FX mobilisation schemes, including the FCNR(B) window launched in early June (SocGen).
Follows USD/INR morning ~95.31.
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