Four traders said the Reserve Bank of India (RBI) may have intervened in the FX market on Monday after U.S.-Iran diplomatic talks stalled and oil prices rose, with month-end corporate flows adding pressure on the rupee. The currency was trading at 95.93 per dollar. RBI intervention helped the rupee hold the 96 level, similar to market action over the past two weeks. A senior foreign-bank trader said: "We see some degree of intervention almost every day, which suggests the RBI currently wants to

Four traders said the Reserve Bank of India (RBI) may have intervened in the FX market on Monday after U.S.-Iran diplomatic talks stalled and oil prices rose, with month-end corporate flows adding pressure on the rupee. The currency was trading at 95.93 per dollar. RBI intervention helped the rupee hold the 96 level, similar to market action over the past two weeks. A senior foreign-bank trader said: "We see some degree of intervention almost every day, which suggests the RBI currently wants to defend a firm floor for the rupee."