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RBI Sells Dollars As Rising Oil Prices Push Rupee To Near Record Low

The rupee was last trading at 81.90, down from 81.34 in the previous session

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The Indian central bank likely sold dollars via state-run banks on Monday as rising oil prices and weak risk appetite pushed the rupee to within striking distance of record lows.

The rupee was last trading at 81.90, down from 81.34 in the previous session. The local unit reached a record low of 81.95 last Wednesday.

The intervention by the Reserve Bank of India was confirmed to Reuters by two bankers and two brokerage firms.

(Reuters)


Tags assigned to this article:
rbi banking reserve bank of india rupee