Rupee anchored by central bank hand, traders watchful of oil ructions

The stability of the Indian rupee was evident on Monday, thanks to the proactive measures taken by the central bank. State-run banks actively provided dollars, reflecting an intervention strategy to uphold currency stability against the backdrop of surging oil prices and the demand from forward contracts. The Reserve Bank of India has effectively maintained the rupee above 95.50 since July. Concurrently, Asian currencies varied while regional stocks demonstrated positive movement.