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Indian rupee languishes at six-week low ahead of Fed outcome, RBI limits losses
MUMBAI: The Indian rupee slipped to its lowest since late July on Wednesday as strong dollar demand from local companies and expectations of a U.S. Federal Reserve rate hike later in the day weighed on the currency. Oil prices eased modestly but remained north of $100 per barrel with likely central bank intervention helping the South Asian unit withstand pressure from multiple directions. The Indian rupee closed flat at 95.9550 per dollar after touching a low of 95.9750 per dollar, its weakest level since July 27. Persistent interventions by the Reserve Bank of India have helped the rupee hold...
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