RBI likely intervened near open to support rupee, traders say
In a decisive action on Thursday, the Reserve Bank of India reportedly offloaded dollars at the market's start to enhance the rupee's standing. Opening at 96.6825 per dollar, the rupee's performance was better than anticipated. This strategic inte...
By Reuters |
Reuters
The Reserve Bank of India likely sold dollars near the market open on Thursday to support the rupee, four traders said, with the currency within striking distance of its all-time low.
The rupee opened stronger at 96.6825 per dollar firmer than market indications of an opening near 96.80, amid signs of RBI intervention.
The currency's all-time low is 96.96, hit in May.
The rupee opened stronger at 96.6825 per dollar firmer than market indications of an opening near 96.80, amid signs of RBI intervention.
The currency's all-time low is 96.96, hit in May.
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