Indian rupee ends flat at 95.93 per dollar as RBI action and index-related inflows offset Fed hike
AI Market Summary
The INR held flat despite Fed tightening and a firm dollar (DXY above 100), as RBI intervention and equity index rebalancing inflows provided near-term support. RBI liquidity-draining actions (including open market debt sales and likely FX swaps) tightened domestic rupee liquidity, dampening depreciation pressures seen across Asia. Short-term FX trading may remain anchored around perceived RBI tolerance levels amid elevated USD carry support.
Impact level
● Medium
Affected assets
NCFXUSD2INR/USDT-0.12%
AI Insight · NCFXUSD2INR/USDTAI Insight
● Neutral
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The Indian rupee closed little changed on Thursday, supported by likely central bank intervention and inflows tied to an equity index rebalancing that helped counter pressure from a U.S. rate hike. Most Asian currencies weakened as the dollar strengthened, with the dollar index holding above 100. The Reserve Bank of India also absorbed surplus rupee liquidity via an open market debt sale.
