RBI intervenes as rupee breaches 92 mark amid Middle East war

The RBI is said to have intervened in the forex market after rupee hit a new all-time low of 92.18 against US dollar on Wednesday amid Middle East war. It is likely selling dollars to prevent any further slide in rupee. "If oil prices remain high, we may have to tolerate a weaker rupee," forex strategist Dhiraj Nim said.