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RBI intervention halts rupee's slide to record low, risks linger
MUMBAI: The Indian rupee was on the defensive on Thursday, pressured by a jump in oil prices and weakness in Asian peers even as likely central bank intervention kept the currency from testing record lows hit five months ago. The Indian rupee ended nearly flat at 96.78 per dollar, within striking distance of its all-time low of 96.96 hit in May. Elevated oil prices, surging developed market bond yields and weak capital flows have battered the rupee this year, driving it down over 7% against the dollar - among the worst performances in the region. While persistent Reserve Bank of India interven...
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