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RBI intervenes to defend rupee as oil prices climb, traders say

RBI intervenes in forex market as rising oil prices pressure rupee, with state-run banks offering dollars, traders report.

RBI intervenes to defend rupee as oil prices climb, traders say
SENSEX   74,279.07
 -623.52
NIFTY   23,258.95
 -218.85
CRUDEOIL   9,874.00
+ 152.00
GOLD   150,887.00
 -1,454.00
SILVER   230,773.00
 -3,326.00
SENSEX   74,279.07
 -623.52
NIFTY   23,258.95
 -218.85
NIFTY   23,258.95
 -218.85
CRUDEOIL   9,874.00
+ 152.00
CRUDEOIL   9,874.00
+ 152.00
GOLD   150,887.00
 -1,454.00

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

By Reuters

Updated - September 11, 2026 at 09:51 AM.

| MUMBAI

Image from article: RBI intervenes to defend rupee as oil prices climb, traders say
The Reserve Bank of India likely intervened in the foreign exchange market on Friday to limit the rupee’s fall as a run-up in oil prices and US bond yields pressured the currency, three FX traders at banks and one at an FX brokerage told Reuters.

The rupee declined as much as 0.4% to 95.7925 before paring losses to last quote at 95.7275.

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

Brent oil prices climbed to nearly $110 per barrel in Asia trading as investor worries deepened over the escalating conflict in the Middle East.

Published on September 11, 2026

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