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RBI intervened to shore up rupee, traders say

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According to four traders speaking to Reuters, the Indian central bank probably stepped into the foreign‑exchange market on Friday to support a rupee that has slipped to record lows in recent weeks.

After the intervention, the rupee climbed to a high of 95.99 against the dollar, up from an intraday trough of 96.30 seen earlier in the session.

Traders also noted that the Reserve Bank of India had taken firm action in the FX market on Thursday.

A trader at a Mumbai‑based bank said the central bank’s repeat intervention on Friday suggests it is uneasy about the rupee’s one‑sided decline in recent sessions.

Published on May 22, 2026

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