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Indian rupee strengthens on firm central bank intervention, oil retreat
MUMBAI: The Indian rupee strengthened modestly on Friday, aided by firm central bank intervention early in the trading session and lower oil prices after US President Donald Trump said he would not attack Iran before next month’s US elections. Brent crude oil prices declined about 1.5%, helping the rupee rise to 96.61 per dollar, up 0.2% on the day. The currency faced pressure in early trading, but traders said the central bank likely intervened near 96.80. The Indian rupee has relied on frequent central bank intervention to avoid testing its record low of 96.96, hit in May. Pressure on the So...
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