The currency was last up 0.15 per cent at 92.18, still close to its all-time low of 92.3475 hit in the previous session
Central bank steps into forex and bond markets as rising crude prices threaten inflation, the rupee and government finances
The rupee touched a fresh low as crude oil prices crossed $100/bbl and global volatility rose, while bond yields eased later after the RBI's OMO purchase helped stabilise sentiment
Sunaina Da Cunha, Co-CIO (Debt) at Aditya Birla Sun Life AMC, said that the geopolitical situation in West Asia is likely to continue injecting volatility into the currency markets
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
The scale of the intervention underscores the challenge the Reserve Bank of India faces in containing volatility triggered by the Middle East conflict that has entered its seventh day
The domestic currency opened 55 paise weaker at 92.03 against the greenback, a day after closing at the 91.47 mark
The traders noted that the central bank's dollar sales via state-run banks were not aggressive, and were likely intended to limit volatility
The beginning of what could be a multi-decade journey has been made. It will be a slow, consistent process, not a hasty one that may cause disruptions
The outlook for the rupee may also be clouded by renewed uncertainty after the US Supreme Court struck down several of President Donald Trump's tariffs
The rupee slipped amid muted global risk appetite and firm US yields, though RBI intervention helped cap losses, while forex reserves hit a new record of $725.7 billion
The Indian rupee fell to its then-record low of 91.0750 on December 16, pressured by worries over a trade stalemate with the US and persistent foreign outflows
Indian unit settles at 90.64 per dollar as RBI intervenes via dollar sales; forex reserves drop $6.7 billion in week ended February 6 on decline in gold holdings
The rupee was headed for a largely flat open before the unexpected intervention, with Asian peers showing little reaction to the upside surprise in US payrolls
Forex reserves at record high of $724 billion
Rupee slips on dollar outflows but logs its strongest weekly gain in over three years after India-US trade deal lifts sentiment
The rupee strengthened marginally on Thursday on modest inflows from a bond issue, but importer demand for dollars and foreign outflows kept gains limited ahead of the RBI's policy decision
The foreign lender had earlier forecast the currency at 90.50-91.00 levels
Rupee posts its biggest single-day gain in seven years as US tariff cut to 18 per cent boosts sentiment and triggers unwinding of speculative short positions
The rupee's gains come after India and the US reached a trade agreement following months of negotiations, although details of the pact are yet to be released