Rupee Steadies on RBI Intervention as Oil Prices Fall

The Indian rupee strengthened marginally against the dollar on the back of falling oil prices and central bank intervention. Crude oil prices dropped around 2% but remained above the $100 per barrel mark, supported by ongoing geopolitical tensions in global markets.

The rupee has faced pressure from higher bond yields affecting emerging market currencies broadly. India's stock index has also been on a losing streak amid these headwinds. The Reserve Bank of India has deployed multiple stabilization measures to cushion the currency against mounting external pressures.