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The Indian rupee closed nearly flat at 89.22 against the dollar, as strength in Asian currencies was offset by strong month-end demand from importers.
The Indian rupee plunged to a new all-time low on Friday, as the notable absence of the Reserve Bank of India from the currency markets sparked widespread uncertainty among traders.
After becoming Asia's worst-performing currency in 2025, the Indian rupee staged a dramatic recovery, gaining over 1% in three days from a near-record low.
India's central bank is reportedly open to allowing Dubai's Emirates NBD to acquire a controlling stake in RBL Bank, signaling a push for foreign investment.
India's rupee has shown unusual stability for three weeks, with volatility at a yearly low, sparking trader speculation of active management by the central bank.
The Indian rupee held steady near its record low of 88.80 against the U.S. dollar, supported by consistent intervention from the Reserve Bank of India.
The USD/INR exchange rate remains stable near 89.00 following the Reserve Bank of India's decision to hold its key interest rate at 5.5%.
The Indian rupee closed at a record low of 88.7875 against the U.S. dollar, marking its fifth straight month of decline amid rising trade tensions.
