RBI intervenes as rupee nears record lows
after close1 source ↓written by the desknot a recommendation
- this week
- ₹94 per dollar
The rupee approached record lows near ₹94 per dollar this week, prompting the Reserve Bank of India (RBI) to intervene. Increased dollar demand from maturing non-deliverable forwards (NDFs) and foreign portfolio outflows pressured the currency. Despite rising stocks due to cheaper oil, currency instability may impact market sentiment.
Not investment advice. For informational purposes only.