Traders Say Indian Central Bank Likely Intervenes to Support Rupee
Traders say India’s central bank likely intervened to support the rupee as oil prices weighed on the currency.
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Traders Say Indian Central Bank Likely Intervened to Support Rupee
Traders said the Indian central bank likely intervened to support the rupee before the local spot market opened.
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Indian central bank likely intervenes to support rupee as oil prices weigh, traders say
The Reserve Bank of India likely intervened in the foreign exchange market on Tuesday, two traders and a foreign exchange broke told Reuters, after the rupee dropped past the 96 per dollar mark to hit a two-month low amid deepening worries about rising oil prices.The rupee FX_IDC:USDINR declined to…