RBI likely selling dollars as rupee weakens amid Iran war, say traders
An over 20 per cent jump in oil prices triggered a broad-based selloff in Asian stocks and currencies on Monday as investors fretted over the deepening conflict in the Middle East
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RBI stepped in before the local spot market opened
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The Indian central bank likely stepped into the foreign exchange market on Monday, four traders told Reuters, to limit the rupee's decline as a surge in oil prices pummelled currencies across Asia.
The central bank stepped in before the local spot market opened, helping the rupee rebound slightly from around 92.30 to 92.20 in the interbank order matching system.
The currency had declined to a record low of 92.3025 last week. An over 20 per cent jump in oil prices triggered a broad-based selloff in Asian stocks and currencies on Monday as investors fretted over the deepening conflict in West Asia.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Mar 09 2026 | 9:43 AM IST