RBI steps up rupee defense amid outflows, oil costs

RBI steps up rupee defense amid outflows, oil costs as rising crude prices and sustained foreign fund outflows pressure the currency. The central bank is increasing dollar sales and tightening liquidity to stabilize the INR, which has fallen to ₹83.50 per USD. This could lead to tighter financial conditions and impact import costs, especially for oil. A weaker rupee may weigh on corporate earnings for import-dependent sectors.

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