Four traders said on Wednesday the Reserve Bank of India may have intervened in the rupee after U.S. President Trump said the Iran deal was "terminated", a remark that pushed oil prices sharply higher. The rupee slid to 95.5925 per dollar before the RBI may have sold dollars to limit the decline; the rate subsequently stabilised.

2026-07-08

Four traders said on Wednesday the Reserve Bank of India may have intervened in the rupee after U.S. President Trump said the Iran deal was "terminated", a remark that pushed oil prices sharply higher. The rupee slid to 95.5925 per dollar before the RBI may have sold dollars to limit the decline; the rate subsequently stabilised.