RBI intervenes to support INR amid dollar pressure
pre-market1 source ↓written by the desknot a recommendation
- before recovering
- 90.9450
- amid thin liquidity
- 91/$
The Reserve Bank of India intervened by selling U.S. dollars to stabilize the Indian rupee, which tested 91 before recovering to 90.9450. This action aimed to prevent a breach above 91/$ amid thin liquidity from a Mumbai market holiday. Traders noted strong dollar demand in the offshore market, which typically pressures the rupee. ⚖️
Not investment advice. For informational purposes only.