Rupee hits two-week low on 'sticky' dollar bids, modest intervention cushions

What happened: The Indian rupee fell to a two-week low against the dollar on Thursday, pressured by dollar demand and overseas debt payments, with the Reserve Bank of India intervening to stabilize it. Why it matters: The rupee's earlier strength has faded amid ongoing market pressures, and markets are awaiting upcoming European Central Bank decisions on interest rates.

The Indian rupee fell to a two-week low against the dollar on Thursday, pressured by dollar demand and overseas debt payments, with the Reserve Bank of India intervening to stabilize it.

The rupee's earlier strength has faded amid ongoing market pressures, and markets are awaiting upcoming European Central Bank decisions on interest rates.