Reserve Bank of India intervenes in the foreign exchange market on Monday
2 min read
Brent crude oil futures advanced 0.5 per cent to $96.8 per barrel amid tit-for-tat exchanges between the US and Iran.
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desifoto Yohaan Ashish Varghese _12194
The Reserve Bank of India probably stepped into the foreign exchange market on Monday, four traders told Reuters, sustaining its robust participation in the FX market, which enabled the rupee to resist strain from climbing oil prices.
Key Takeaways
- RBI likely intervened in the forex market Monday, helping the rupee resist pressure from rising oil prices.
- The rupee gained about 0.1% to 94.42 per dollar from the previous close of 94.4850.
- Brent crude rose 0.5% to $96.8 a barrel amid escalating US-Iran exchanges near the Strait of Hormuz.
- Traders said RBI’s sustained FX participation has been a key factor cushioning the rupee against global oil-driven volatility.
The rupee gained around 0.1 per cent due to the central bank’s move and was last seen at 94.42 per dollar, against its previous session close of 94.4850.
Brent crude oil futures jumped 0.5 per cent to $96.8 per barrel as reciprocal strikes between the US and Iran on vessels in the Strait of Hormuz and nearby waters raised fears of a sustained supply interruption from the Middle East.
Published on September 7, 2026
