Rupee Stable Amid RBI Intervention, Crude & FII Selling Pressure

• Indian Rupee opened at ₹89.96/$ on Thursday, slightly lower than Wednesday's close of ₹89.87/$, later reaching ₹89.90/$.
• Reserve Bank of India (RBI) actively intervened, selling dollars at ₹90.22 to cap the dollar's strength at ₹90.30, preventing further Rupee depreciation.
• Rising Brent crude prices, trading 0.38% higher at $60.19 per barrel, and a strong US dollar (index at 98.69) exerted upward pressure on the currency.
• Weak domestic equity sentiment, with Sensex and Nifty falling, coupled with FIIs selling ₹1,527.71 crore worth of equities, added to the Rupee's pressure.
• Traders expect limited Rupee appreciation, but continued RBI management could see it decline to ₹89.50/$.

Why It Matters: Rupee stability is maintained by RBI intervention despite pressure from rising crude, FII selling, and a strong US dollar.