Rupee snaps losing streak on RBI support, oil retreat

On Friday, the Indian rupee managed to break its losing streak, thanks to active dollar sales by the Reserve Bank of India and a decrease in oil prices. The currency closed at 95.87, reflecting a minor uptick from its previous closing value. Nevertheless, the firm dollar index and ongoing importer demand curtailed major gains, with the rupee down 1.05% so far this fiscal year.