Rupee holds steady.

RBI Intervention Keeps Rupee Anchored Near 95.50

The Reserve Bank of India's persistent support has become a floor for the rupee's decline. Market Screener notes that the central bank's buying continues to blunt downward pressure from foreign flows. Any move toward 96.00 faces stiff resistance from RBI action.

Importers meanwhile keep steady dollar demand alive on the other side. This creates a balanced market where neither buyers nor the RBI can push the currency far from 95.50. The pattern repeats what traders saw last week — tight, repetitive moves in a narrow band.

Oil Prices Absorbed, But Hedging Could Trigger Below 95.00

Crude oil at $90 per barrel is no longer rattling currency markets the way it once did. Market Screener reports that importers have largely absorbed these price levels without panicking. But if the rupee dips toward 95.00, fresh hedging demand from importers will likely emerge and support the currency.

Jackson Hole Speech Adds Caution to Rupee Moves

The Federal Reserve chief's Jackson Hole speech adds an extra layer of caution. Traders are holding their positions and waiting for cues on US interest rates and economic policy. Any surprise from the speech could spark a sharp move in the rupee, but for now, the currency sits in a holding pattern.