RBI likely intervened to cap pressure on rupee, say traders

SENSEX 73,729.24

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SENSEX 73,729.24

+ 483.21

NIFTY 22,822.05

+ 123.20

NIFTY 22,822.05

+ 123.20

CRUDEOIL 9,662.00

 -136.00

CRUDEOIL 9,662.00

 -136.00

GOLD 143,672.00

 -33.00

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State-run ‌banks were spotted ​offering dollars, most likely on ⁠behalf of the RBI, traders ‌said

By Reuters

Updated - October 29, 2026 at 10:50 AM. | MUMBAI, Oct 29

Market players described the RBI’s intervention as ‘relatively mild’ | Photo Credit: Nisha Dutta

The Reserve ​Bank of India likely ‌stepped into the ​foreign exchange ⁠market on Thursday to contain pressure on ‌the rupee, four traders ‌told Reuters, describing the ‌intervention ⁠as mild.

The ⁠rupee was at 95.2350 per dollar, ​little changed from ‌its close at 95.22 in the previous session.

State-run ‌banks were spotted ​offering dollars, most likely on ⁠behalf of the RBI, the traders ‌said.

The central bank's interventions have been "relatively mild," over recent sessions and appear ‌intended to nudge ​the market moves as opposed to ⁠forcing a sharp bounce ⁠in the currency, one of ‌the traders said.

Published on October 29, 2026

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