India’s rupee weakened against the U.S. dollar on Friday as demand linked to forward currency maturities pressured the domestic currency, traders said.
The depreciation came despite Reserve Bank of India support measures aimed at stabilizing the exchange rate. Oil import costs and global risk sentiment also influenced trading.
Corporate treasurers said maturity-related dollar demand typically spikes at month-end and quarter-end periods, amplifying short-term volatility.
Economists said sustained RBI intervention could limit further weakness but would not eliminate sensitivity to external shocks such as Middle East conflict.
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Sources:
https://www.business-standard.com/economy