Story thread · 2 reports / 2 sources

Rupee falls to a 3-week low of 95.71, raising financial concerns

economictimes.indiatimes.com · 1hShare

Mumbai: The Indian rupee closed at a three week low of 95.75 on Wednesday, marginally weaker from its previous close of 95.68, with traders attributing the modest retreat to substantial central bank interventions that prevented further losses for the local monetary unit.The RBI has consistently intervened for the past nine trading sessions, arresting weakness in the rupee, as oil prices soared. Indian equity indices have also continued to fall through most of last week and this week, reflecting the impact of soaring energy costs.Read more: Goldman Sachs backs D-street debutante Shiprocket, buys over 40 lakh shares

First report: Rupee slips to three-week low on oil strain, RBI steps in yet again to cap fall — reuters.com, 2d