The Indian rupee was little changed on Friday but fell for the week as oil prices rose for a second straight week on concerns about supply disruptions from the Iran war. Frequent Reserve Bank of India intervention limited losses and kept the rupee stronger than the psychologically key level of 96 per dollar. It closed at 95.69 on Friday, nearly flat on the day and down 0.3% for the week.
Sustained central bank presence across market segments has subdued moves in the rupee and driven its 2-week realised volatility to under 2%, among the lowest in Asian peers.
