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FR
Rupee drifts; RBI intervention dulls pinch from weak stocks, firm dollar
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By Jaspreet KalraMUMBAI, Jan 30 (Reuters) - The Indian rupee was largely flat on Friday, squeezed between a broadly firmer dollar and likely central bank intervention, which also dulled the pressure from weakness in local stocks.
The rupee was at 91.9450 per dollar as of 10:45 a.m. IST, up marginally from its close at 91.9550 previous session.
The central bank's intervention helped the rupee hold above the 92 handle on Friday, similar to the previous session.
A sustained break above it could open the door toward 92.20–92.50," said Amit Pabari, managing director at FX advisory firm CR Forex.
Bloomberg News reported on Friday that the Trump administration is preparing to nominate Kevin Warsh as the next Fed chair.