Indian rupee steady at 83.962 vs US Dollar as RBI intervention prevents decline

The Indian rupee remained steady at 83.96 against the US dollar, supported by the Reserve Bank of India’s (RBI) intervention to prevent further depreciation. The RBI’s measures included selling dollars in the open market to stabilize the currency. This intervention comes amid global economic uncertainties and rising crude oil prices, which have put pressure on the rupee. The central bank’s actions aim to maintain exchange rate stability and control inflation. The steady rupee reflects the RBI’s commitment to managing currency volatility and ensuring economic stability.