The RBI (Reserve Bank of India) tried to boost the Indian currency on Thursday after it directed exporters to convert 50% of their dollar earnings in the Exchange Earner's Foreign Currency (EEFC) account to rupee. However, despite the RBI's intervention, the rupee was at a record low and there was hardly any noticeable movement in the currency.
first published: May 11, 2012 04:19 pm
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