Rupee falls to 91.96/$ as RBI intervenes
after close1 source ↓written by the desknot a recommendation
- against the dollar
- 91.96
- from the previous
- 18 paise
- previous close
- 91.78
- before recovering due
- 92
- dollar index rose
- 0.12%
The rupee closed at 91.96 against the dollar, down 18 paise from the previous close of 91.78. It briefly hit a record low near 92 before recovering due to dollar sales by public sector banks on behalf of the RBI. The dollar index rose 0.12% to 96.27, adding pressure on the rupee amid strong demand linked to derivative maturities.
RBI's intervention helped limit losses beyond the 92 mark, but the rupee's weakness affected the government bond market, leading to higher short-term swap rates despite stable domestic macro indicators.
Not investment advice. For informational purposes only.