MUMBAI: The Indian rupee slipped to a record low versus the US currency on Thursday, before recovering to end the session higher as the Reserve Bank of India likely sold dollars to support the sliding local unit.
The rupee closed at 82.76 per US dollar, against 83.0200 in the previous session. It sank to a lifetime low of 83.2625 earlier in the session, prompting the RBI to step in.
The RBI’s intervention this time was quite “aggressive”, according to a trader at a private bank.
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