India central bank likely intervened to support rupee, traders say
The Reserve Bank of India likely intervened in the foreign exchange market on Tuesday to support the rupee, six traders said, as it navigates high oil prices and weak portfolio flows. State-run banks were spotted offering dollars, most likely on behalf of the RBI, traders said. The rupee was at 95.78 per dollar.
MUMBAI, Sept 22 (Reuters) — The Reserve Bank of India likely intervened in the foreign exchange market on Tuesday, six traders said, keeping up its market interventions to support the currency as it navigates high oil prices and weak portfolio flows. 78 per dollar, up marginally from its previous closing level. State-run banks were spotted offering dollars, most likely on behalf of the RBI, traders said. 80-96 zone will continue to be protected by the central bank, one of the traders said.
com; +91-8769636545;)