Rupee volatility increases after RBI intervention
pre-market1 source ↓written by the desknot a recommendation
- before settling
- ₹89.75 per dollar
- before settling
- ₹90.28
The Indian rupee experienced significant volatility on Wednesday following RBI's aggressive intervention, which aimed to stabilize the currency. It surged to ₹89.75 per dollar before settling around ₹90.28, reflecting fragile market sentiment amid foreign outflows and trade uncertainties. This intervention mirrors previous actions taken by the RBI to counter depreciation pressures.
The market remains on edge as foreign selling continues, and uncertainty over the India-U.S. trade deal looms. Traders should watch for further RBI actions as they navigate this turbulent environment.
Not investment advice. For informational purposes only.