Indian Central Bank Sells Dollars to Stabilize Rupee: What It Means for Investors and Businesses in Oman
MUMBAI – The Indian central bank appeared to be intervening in the foreign exchange market by selling dollars to prevent further weakening of the rupee on Tuesday, according to four traders interviewed by Reuters. The rupee remained close to its record low levels.
As of 11:00 a.m. IST, the rupee was trading at 90.99 per dollar, down 0.1% for the day. Earlier, it had fallen to 91.0525, approaching the all-time low of 91.0750 reached last month.
Special Analysis by Omanet | Navigate Oman’s Market
The Indian rupee’s continued weakness against the dollar, coupled with central bank intervention, signals currency volatility that could impact trade and investment flows between Oman and India. For Omani businesses, this presents both a risk of increased import costs and an opportunity to explore strategic hedging or diversification. Smart investors should closely monitor forex trends to capitalize on currency-driven market shifts and mitigate exposure.
