RBI likely selling dollars to prevent rupee from falling to record low: Traders

The Reserve Bank of India also likely supplied dollars in the non-deliverable forward market before the spot market opened, five traders said.

Reuters

September 28, 2023 / 10:19 IST

RBI likely selling dollars to prevent rupee from falling to record low: Traders

India's central bank is likely selling U.S. dollars at around 83.22-83.25 rupee levels to prevent the rupee from heading towards a record low, seven traders said.

The Reserve Bank of India also likely supplied dollars in the non-deliverable forward market before the spot market opened, five traders said.

The rupee opened little changed at 83.2250 against a close of 83.22 in the previous session.

Reuters

first published: Sep 28, 2023 10:18 am

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