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The Reserve Bank of India likely intervened in the foreign exchange market on Tuesday via dollar sales to support the rupee and dollar-rupee sell/buy swaps aimed at draining excess cash, four traders told Reuters. The rupee was last at 96.41 per dollar, recovering marginally from its over two-month low of 96.43 in earl
The Reserve Bank of India likely intervened in the foreign exchange market on Tuesday by selling dollars to support the rupee and conducting dollar-rupee sell/buy swaps to drain excess cash, according to four traders.