Credit Source
The Reserve Bank of India is likely selling U.S. dollars again to defend the rupee and keep it from sliding to a record low, three traders told Reuters on Thursday.
The rupee was at 83.2650 against the dollar, little changed from its close at 83.2575 in the previous session. The rupee, aided by the RBI, held its ground despite weakness in most Asian currencies and higher U.S. yields.
Also Read : Stock Market LIVE: Gift Nifty slides 100 pts; US Treasury yields top 4.9%
The RBI’s intervention “was expected”, a foreign exchange trader at a private bank said.
First Published: Oct 19 2023 | 10:32 AM IST
Add A Comment