RBI intervenes to support rupee with dollar sales
pre-market1 source ↓written by the desknot a recommendation
- after settling
- ₹90.4550 per dollar
- previously
- ₹90.70
India's central bank sold dollars aggressively before market opening, leading to a sharp rebound in the rupee, which opened at ₹90.4550 per dollar after settling at ₹90.70 previously. The intervention, described as indiscriminate, surprised traders and raised questions about its timing. A major state-run lender was reportedly a key seller, altering the initial flat market outlook.
Not investment advice. For informational purposes only.