RBI intervenes to support rupee amid pressure
after close1 source ↓written by the desknot a recommendation
- on Tuesday
- ₹96.32 per dollar
- all-time low
- ₹96.3875
The Reserve Bank of India likely sold dollars to stabilize the rupee, which opened at ₹96.32 per dollar on Tuesday, close to its all-time low of ₹96.3875. This intervention follows increased importer hedging and ongoing mismatches in daily flows, as the RBI aims to curb volatility in the foreign exchange market. 📉
Traders note that the RBI's actions are crucial to maintaining market confidence amidst rising pressure on the rupee.
Not investment advice. For informational purposes only.