AIRLINK 172.40 Decreased By ▼ -0.75 (-0.43%)
BOP 10.59 Decreased By ▼ -0.06 (-0.56%)
CNERGY 8.39 Decreased By ▼ -0.13 (-1.53%)
CPHL 103.71 Increased By ▲ 6.25 (6.41%)
FCCL 46.40 Decreased By ▼ -0.85 (-1.8%)
FFL 15.40 Decreased By ▼ -0.02 (-0.13%)
FLYNG 27.50 Decreased By ▼ -0.63 (-2.24%)
HUBC 137.70 Decreased By ▼ -1.21 (-0.87%)
HUMNL 12.85 Increased By ▲ 0.04 (0.31%)
KEL 4.48 Decreased By ▼ -0.06 (-1.32%)
KOSM 5.41 Decreased By ▼ -0.14 (-2.52%)
MLCF 61.64 Decreased By ▼ -0.62 (-1%)
OGDC 214.00 Decreased By ▼ -0.75 (-0.35%)
PACE 5.47 Decreased By ▼ -0.08 (-1.44%)
PAEL 46.55 Increased By ▲ 1.69 (3.77%)
PIAHCLA 18.85 Increased By ▲ 0.15 (0.8%)
PIBTL 10.63 Decreased By ▼ -0.11 (-1.02%)
POWER 12.51 Increased By ▲ 0.25 (2.04%)
PPL 171.75 Decreased By ▼ -2.12 (-1.22%)
PRL 36.21 Decreased By ▼ -0.01 (-0.03%)
PTC 23.47 Decreased By ▼ -0.09 (-0.38%)
SEARL 98.35 Increased By ▲ 3.04 (3.19%)
SSGC 40.18 Increased By ▲ 1.05 (2.68%)
SYM 13.99 Decreased By ▼ -0.03 (-0.21%)
TELE 7.22 Decreased By ▼ -0.01 (-0.14%)
TPLP 10.23 Decreased By ▼ -0.06 (-0.58%)
TRG 64.00 Decreased By ▼ -0.68 (-1.05%)
WAVESAPP 10.08 Increased By ▲ 0.04 (0.4%)
WTL 1.32 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.67 Decreased By ▼ -0.03 (-0.81%)
BR100 12,425 Decreased By -66.4 (-0.53%)
BR30 37,569 Decreased By -125.2 (-0.33%)
KSE100 115,765 Decreased By -424.2 (-0.37%)
KSE30 35,535 Decreased By -215.3 (-0.6%)

MUMBAI: The Indian central bank was likely selling dollars to support the rupee as the currency lingered near its all-time low on Monday, pressed by sustained outflows from local stocks, five traders told Reuters.

The rupee was nearly unchanged on the day at 84.39 compared with its close of 84.3950 in the previous session.

The currency had weakened to its all-time low of 84.4125 last week.

Indian rupee nearly flat; central bank intervention supports as equities stay tepid

State-run banks were spotted offering dollars near 84.40 levels, most likely on behalf of the Reserve Bank of India (RBI), the traders said.

The local currency is under pressure amid weakness in local stocks even as most Asian currencies nudged higher, comforted by a pause in the dollar index’s searing rally spurred by Donald Trump’s victory in the US presidential elections.

Traders expect the rupee to weaken to 84.50 gradually this week with the central bank expected to smoothen any sharp moves.

Comments

200 characters