Rupee strengthens to 95.59 amid drop in oil prices & RBI dollar sales

On Tuesday, the Indian rupee appreciated to 95.59, benefiting from a decrease in oil prices. The central bank’s dollar sales helped mitigate pressure on the currency. The rupee fluctuated between 95.58 and 95.86 during the trading session. Corporate demand for dollars created a conflict in the market, affecting the rupee’s stability. Ultimately, the central bank’s intervention helped maintain the rupee’s strength against the dollar.

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