RBI stabilizes rupee as Asian currencies decline
after close1 source ↓written by the desknot a recommendation
- against the US
- ₹88.65
- despite rising demand
- ₹88.80
- 50 dipped only
- 0.3%
The Indian rupee remained steady at ₹88.65 against the US dollar this week, contrasting with declines in most Asian currencies. The Reserve Bank of India’s interventions, including dollar sales and liquidity management, have prevented the rupee from falling below ₹88.80 despite rising demand from importers. This stability comes as India’s Sensex and Nifty 50 dipped only 0.3%, indicating relative market resilience.
Not investment advice. For informational purposes only.