REPORT / BUSINESSBusiness
RBI seen intervening to support rupee after it slips past 90 per US dollar: Reuters
Traders said the RBI stepped in to support the rupee after it weakened past the 90-per-dollar level, underscoring ongoing pressure on the currency and active central-bank management.
The Reserve Bank of India (RBI) was seen intervening in markets to support the rupee after the currency weakened past the 90-per-US dollar mark, according to a Reuters report carried by Hindustan Times.
The report cited traders who said the rupee had slipped early in the session before recovering, with intervention helping move it back below the key psychological level.
The episode highlights the RBI’s continued focus on smoothing volatility in the rupee amid shifting positioning and expectations in currency markets.
- Rupee briefly crosses 90/$ before recovering
- Traders attribute recovery to RBI intervention
- Action aimed at containing one-way moves and volatility
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