FX & Currency #foreign exchange#dollar demand
Rupee Slips to 95.4 as Spike in Dollar Demand Sparks OMC Return Speculation
The Indian rupee closed at 95.4 against the US dollar, falling 15 paise from its previous close, amid a surprise spike in dollar demand that has reignited speculation that public sector oil marketing companies (OMCs) have returned to the foreign exchange market. The Reserve Bank of India had earlier this year moved OMCs to a separate window to reduce market volatility.
Jul 2, 2026 1 source