Rupee holds near 96 per dollar after weekly dip
The rupee ended at 95.8750 per dollar, with a weekly decline attributed to expectations for higher global interest rates and traders watching oil prices and potential central bank intervention around 96/$.
The rupee posted a weekly decline on Friday, pressured by expectations of higher global interest rates. Traders also watched oil prices and said central bank intervention would likely limit the currency’s downside around 96 per dollar. 8750 per dollar, rising modestly on the day.