Full Breakdown
RBI Intervention Keeps Indian Rupee Near 95.25 Amid Oil Price Rise
8/10/2026, 11:37:40 AM
Core Event: Rupee Holds in Thin Range
On August 10, the Indian rupee traded around 95.25 per U.S. dollar, barely moving from the prior session’s close of 95.2075. Traders observed state-run banks offering dollars, a move interpreted as likely backing from the Reserve Bank of India (RBI). The dollar sales helped blunt the impact of a modest uptick in Brent crude, which was hovering near $85 per barrel, and reduced pressure from non-deliverable forward (NDF) contracts maturing that had heightened demand for dollars at the RBI’s daily reference rate.
Background: Recent RBI Market Support
Since the end of July, the RBI has intervened sporadically in the foreign-exchange market, anchoring the rupee on the stronger side of the 95.50 level. Earlier interventions left traders uncertain about the extent of weakness the central bank would tolerate. By early August, “consistent USD offers” from state-run banks signaled a shift toward a firmer stance, according to a private-bank trader.
Data & Statistics
Official Statements & Responses
A trader at a private bank described the “consistent USD offers” from state-run banks as evidence that the central bank is not inclined to let the rupee weaken further.
Verbatim Quotes
- “Technically, the 95.00-95.10 zone should continue to act as a solid floor for the (USD/INR) pair,” — Amit Pabari, managing director at FX advisory firm CR Forex
These actions come as regional currencies trade mixed and Asian stocks gain, buoyed by expectations that the U.S. Federal Reserve may trim imminent rate hikes. The RBI’s apparent willingness to provide steady dollar supply appears to have reinforced the rupee’s near-95 level, at least through the trading day of August 10.
