Why did the Reserve Bank of India intervene in the foreign exchange market on Friday, according to traders?

The Reserve Bank of India likely intervened in the foreign exchange market on Friday to limit the rupee's fall amid rising oil prices and U.S. bond yields, which were pressuring the currency; traders reported that state-run banks were spotted offering dollars, most likely on behalf of the RBI.

What was the intraday low and closing level of the Indian rupee against the U.S. dollar on Friday, and what triggered its depreciation?

The rupee declined as much as 0.4% to 95.7925 before paring losses to last quote at 95.7275; its depreciation was driven by a run-up in oil prices — with Brent crude climbing to nearly $110 per barrel in Asia trading amid deepening investor worries over the escalating Middle East conflict — and rising U.S. bond yields.

Indian central bank intervenes to defend rupee as oil prices climb, traders say

Sep 10, 2026

The Reserve Bank of India likely intervened to stabilize the rupee as Brent oil prices surged near $110 per barrel amid Middle East tensions. State-run banks offered dollars to counter the currency's fall driven by rising U.S. bond yields.

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