India's Central Bank Likely Intervened Near Open to Support Rupee, Traders Say

RBI steps in to keep rupee from slipping to record low, traders say

State-run banks were ⁠spotted offering dollars right before the local spot ‌market opened, most likely on behalf of the RBI, traders say

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

RBI likely intervened near open to support rupee, traders say

In a decisive action on Thursday, the Reserve Bank of India reportedly offloaded dollars at the market's start to enhance the rupee's standing. Opening at 96.6825 per dollar, the rupee's performance was better than anticipated. This strategic intervention demonstrates the RBI's proactive approach to maintain currency stability as the rupee nears its all-time low of 96.96 from May. Market participants were attentive to these fluctuations amid ris…

Rupee jumps by 23 paise in early deals on soft dollar, RBI support

New Delhi, Oct 9 (SocialNews.XYZ) The Indian rupee on Friday appreciated by 23 paise to 96.65 against US dollar in early hours of session supported by slight softening in US dollar and suspected intervention by... - Social News XYZ