Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

RBI Seen Intervening To Support Rupee: Traders

The Reserve Bank of India intervened heavily in morning trade as the rupee fell to around 68.65 per dollar, approaching the record low hit in the previous session

Photo Credit : Reuters

1480052625_SYvrmO_New-2000-Rupee-reuters-470-2.jpg

The Reserve Bank of India intervened heavily in morning trade on Friday (25 November) as the rupee fell to around 68.65 per dollar, approaching the record low hit in the previous session, traders said.

The intervention sparked a sharp rebound in the rupee, which was trading at 68.4750 per dollar as of 0432 GMT, up from its 68.7350 close on Thursday.

The rupee fell to a record low of 68.8650 on Thursday, pressured by a rallying US dollar, capital outflows from emerging markets, and worries about the country's demonetisation drive.

(Reuters)


Tags assigned to this article:
traders reserve bank of india rupee trading