RBI likely intervened to support rupee near record low
Three Reuters traders said the Reserve Bank of India likely intervened in the FX market to support USD/INR as the rupee neared its all-time low amid portfolio outflows and elevated oil prices tied to the Iran war.
The Reserve Bank of India likely intervened in the FX market on Friday to support the rupee as the currency approached its all-time low, three traders told Reuters. 7575. Persistent portfolio outflows and elevated oil prices due to the Iran war have weighed on the unit.