Why RBI is Holding the Rupee at 95.45 as Oil Climbs
The Reserve Bank of India has been defending the rupee around ₹95.45 per US dollar as rising crude oil prices and a firm dollar index put downward pressure on the currency. India imports more than 80% of its crude, so higher oil prices raise dollar demand from oil marketing companies. RBI intervention and exporter dollar sales around ₹95.45 have capped downside risk and kept the rupee in a narrow band, according to market data cited by brokerage Swastika.



















