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State-run banks were spotted offering dollars, most likely on behalf of the RBI. | Photo Credit: FRANCIS MASCARENHAS The Reserve Bank of India likely stepped into the foreign exchange market on Wednesday to shield the rupee from pressure due to persistently elevated oil prices amid uncertainty over the US-Iran war.The rupee was on track for a quiet open and was hovering at 95.70 on the interbank order matching system before the local spot market opened at 9 a.m. IST.State-run banks were spotted offering dollars, most likely on behalf of the RBI, traders said.Published on August 19, 2026 Source
The rupee depreciated 13 paise to close at 95.74 against the US dollar on Tuesday. | Photo Credit: istock.com The rupee rose marginally by 1 paisa to 95.73 on Wednesday, assisted by RBI intervention, as heightened tensions in West Asia kept global markets on the edge.A rise in global crude oil prices added pressure to the local unit while a decline in the dollar index and FII inflows provided support, forex traders said.At the interbank foreign exchange, the rupee opened at 95.72 before slipping to 95.73, up 1 paisa from its previous close.The rupee depreciated 13 paise to close at…
The EUR/JPY cross trades in negative territory around 184.60 during the early European trading hours on Wednesday. The Japanese Yen (JPY) edges higher against the Euro (EUR) amid hawkish signals from the Bank of Japan (BoJ). Japan’s National Consumer Price Index (CPI) inflation report will be the highlight later on Friday. Growing speculation that the Bank of Japan may raise interest rates in the coming months provides some support to the JPY. Reuters in a report Friday said the Japanese central bank is considering a rate hike as soon as September. Overnight index swaps are pricing in about an 80% odds…
The Indian rupee is poised to open weaker on Wednesday, as a deteriorating risk backdrop and high oil prices reinforce the currency’s underlying negative near-term bias.The rupee is expected to open in the 95.75 to 95.80 range, traders said, compared with 95.68 on Tuesday. Brent crude is nearing $92 a barrel, while high U.S. Treasury yields are weighing on risk appetite.Oil prices were up for the fourth straight day amid continued uncertainty over the Strait of Hormuz. U.S. President Donald Trump said on Tuesday that no talks were taking place with Iran and insisted the strait was open, contradicting Iran’s…
The U.S. dollar drifted near multi-month lows against major peers on Wednesday as Treasury yields eased from recent highs, with investors awaiting minutes of the Federal Reserve’s latest policy meeting for clues on the path of interest rates.The euro inched higher to $1.1577, remaining close to the two-month high touched earlier this week.Sterling was little changed at $1.3533, holding near a three-month high ahead of British inflation data due later on Wednesday, which is widely expected to show persistent price pressure.The Japanese yen was little changed at 159.56 per dollar, having given back much of its intervention gains, but it…
The Aussie Dollar reversed its course against the Greenback on Tuesday as investors remain uncertain of the outcome of the Middle East conflict, which tends to push energy prices higher, increasing the likelihood that major central banks would need to tighten monetary policy. The AUD/USD trades at 0.7080 after reaching a high of 0.7119.AUD/USD Reverses as Iran Risks Lift Dollar Before Fed MinutesThe US-Iran conflict is making headlines. Recently, CNN, citing a US official, reported that Trump instructed senior officials to stop talks with Iran. Trump also confirmed that the US Navy blockade is still active, while US data was…
AUD/USD trades just below 0.7100 on Tuesday, a touch lower for the day and sliding from the two-month highs reached on Monday. The pair opened with a firmer tone and pushed toward 0.7119 early on, but the bid faded through the session, and by the middle of the American trading session it sits just under its opening level.The move owes little to Australian data and almost everything to geopolitics. The US Dollar (USD) has clawed back a little ground as tensions around the Strait of Hormuz flare again, keeping a modest safe-haven bid under the Greenback and weighing on risk-sensitive…
Chris Turner at ING describes EUR/USD as contained after a rally stalled just above 1.16, with investors cautious due to high natural gas prices and upcoming FOMC minutes. He expects a 1.1520–1.1580 range near term, while higher energy supports ECB hike expectations. ING maintains forecasts for EUR/USD at 1.17 by end-September and 1.18 by year-end.Euro capped by energy and Fed risk”Yesterday’s EUR/USD rally stalled shortly above 1.16, and investors will be reluctant to push it much higher given energy price developments and ahead of the FOMC minutes tomorrow night.””Despite recent positive economic surprises in the eurozone, the fact that natural…
The rupee depreciated 7 paise to close at 95.68 (provisional) against the US dollar on Tuesday, weighed down by elevated crude oil prices and lingering geopolitical tensions in West Asia.Forex traders said the USD/INR pair is likely to trade with a slight negative bias, pressured by the delay in the deal between the US and Iran, rising crude oil prices and broader dollar support.At the interbank foreign exchange, the rupee opened at 95.68 against the greenback and traded in a range of 95.64-95.69 during the session. It eventually settled at 95.68 (provisional), lower by 7 paise from its previous close.On…
The Indian rupee closed marginally weaker on Tuesday as likely central bank intervention stood between the South Asian unit and the pressure from elevated oil prices and surging global bond yields.The rupee closed at 95.68 per dollar, down modestly from its close of 95.6025 in the previous session.The Reserve Bank of India likely intervened across market segments to support the rupee on Tuesday, traders said. The intervention anchored the currency even as its Asian peers slipped, with the Philippine peso down 0.5% and Indonesian rupiah down 0.2%.The rupee, rupiah and peso triplet is seen as among the most vulnerable to…