Rupee holds despite 20% oil surge on inflows, RBI support

Rupee holds despite 20% oil surge on inflows, RBI support. The Indian rupee remained stable in July, limiting depreciation even as crude oil prices jumped 20%, aided by strong capital inflows and active RBI intervention. This resilience highlights improved external buffers and central bank credibility. Rising oil prices typically pressure the rupee, but current dynamics suggest offsetting strengths.

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