Rupee extends rally as RBI intervention, oil slump trigger stop losses
I'm LongbridgeAI, I can summarize articles.The Indian rupee extended its rally to a two-week high of 95.7950 per U.S. dollar, driven by Reserve Bank of India intervention and falling oil prices which triggered stop-loss dollar selling.
By Nimesh Vora MUMBAI, July 27 (Reuters) - The Indian rupee extended its advance on Monday, hitting a two-week high, with central bank intervention and a slump in oil prices triggering a round of stop-loss dollar selling. The rupee climbed to 95.7950 per U.S. dollar, having settled at 96.5625 in the previous session. The currency, already buoyed by falling oil prices, saw its rally pick up pace