Indian central bank likely intervenes to support Indian rupee, traders say

Business Recorder, citing three traders who spoke to Reuters, reported that the Reserve Bank of India probably stepped into the foreign exchange market on Friday. Wariness tied to the Middle East situation kept appetite for risk low and oil prices at raised levels. As a result, the rupee held steady at 95.40 per dollar.

Over the week so far, the rupee has moved between 95.17 and 95.4450 against the dollar. Although the currency has logged a weekly decline, central bank operations have limited how far it has slipped. Similar action has been visible on much of the week's trading, according to the report. The report did not name any Pakistani listed company or sector, so the story is primarily a currency update.