RBI likely intervenes to shield rupee as oil prices climb, traders say

The Reserve Bank ​of India likely intervened ‌in the foreign ​exchange market ⁠on Tuesday (September 15, 2026), four traders told Reuters , as rising ‌oil prices and growing wagers ‌on a ‌rate ⁠hike in the ⁠U.S. this week pressured the South Asian unit.

The ​rupee declined ‌0.2% to 95.79, hovering around its weakest levels in ‌a month.

State-run banks ​were spotted offering dollars, most ⁠likely on behalf of the RBI, the ‌traders said. The dollar sales were not “especially heavy” in nature and are likely ‌intended to limit excessive volatility, ​a trader at a Mumbai-based ⁠bank said.