A man stands in front of the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, February 6, 2026. REUTERS
MUMBAI, June 3 (Reuters) – The Indian central bank likely intervened in the foreign exchange market on Wednesday to limit the rupee’s fall, four traders told Reuters, as a rise in crude prices on renewed U.S.-Iran hostilities pressured the South Asian currency.
The rupee was at 95.47 per dollar, down 0.2% on the day.
State-run banks were spotted offering dollars near the 95.50 mark, a trader at a Mumbai-based bank said.
Renewed hostilities in the Middle East sparked the third consecutive daily rise in oil prices, with Brent crude rising about 1% to nearly $97 per barrel.
Reporting by Jaspreet Kalra and Dharamraj Dhutia; Editing by Mrigank Dhaniwala
