Markets
India's central bank likely intervened near open to support rupee, traders say
- The rupee opened stronger at 96.6825 per dollar firmer than market indications of an opening near 96.80
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India's RBI likely sold dollars to support the rupee, which opened stronger after intervention, preventing it from hitting its all-time low.
Read the full article for:
- RBI's dollar sales to support the rupee.
- Rupee's proximity to its all-time low.
- The rupee's stronger opening.
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MUMBAI: The Reserve Bank of India likely sold dollars near the market open on Thursday to support the rupee, four traders said, with the currency within striking distance of its all-time low.
The rupee opened stronger at 96.6825 per dollar firmer than market indications of an opening near 96.80, amid signs of RBI intervention.
The currency’s all-time low is 96.96, hit in May.‑Reuters