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Story summary
- Reserve Bank of India (RBI) intervened in the forex market, lifting the rupee to about 94.42 per dollar.
- State-run banks sold dollars for the RBI, keeping the rupee near 94.44 per dollar.
- Brent crude rose to $97.4 per barrel, a six-week high, as U.S.–Iran strikes heightened supply concerns.
- The RBI will conduct a 30-day variable-rate reverse repo auction of 7 trillion rupees on Monday.
