Rupee boxed in range; traders focus on oil, outflows and RBI's defence

What happened: The rupee ended at 95.1150 per dollar, up less than 0.1% from 95.1850 on Monday, with traders citing oil prices, equity outflows and RBI intervention as the main forces keeping it rangebound. Key numbers: Rupee at 95.1150 per dollar, versus 95.1850 on Monday. Brent crude near $117 per barrel. Why it matters: Traders said the currency remains reliant on RBI support, and the central bank's tolerance for a measured weakening will be closely watched. Former RBI governor Raghuram Rajan told Reuters India should not fixate on a number or run down reserves to defend the rupee.

Rupee rangebound as traders watch oil, outflows, and RBI defence.

Rupee rangebound as traders watch oil, outflows, and RBI defence. — impact context not separately stored; see What changed.