Rupee strengthens as RBI intervenes in forex market
pre-market1 source ↓written by the desknot a recommendation
- per US dollar
- ₹89.27
- as USD/INR approaches
- ₹89.50–₹89.60
- to near
- ₹90.10–₹90.20
- triggered stop-losses
- ₹89.30
India’s rupee recorded its best week since June, closing at ₹89.27 per US dollar after a significant late-session dollar selloff. Traders are closely monitoring whether the RBI will continue its intervention as USD/INR approaches ₹89.50–₹89.60. This rapid decline from ₹90.10–₹90.20 to near ₹89.30 triggered stop-losses and repositioning among traders, indicating domestic flows are driving the currency's strength rather than global cues.
Not investment advice. For informational purposes only.