Business & Finance
RBI Intervention Lifts Rupee to Strongest Gain in Over a Month
Key Points
RBI Intervention Lifts Rupee to Strongest Gain in Over a Month India’s central bank sold dollars in the local currency market, propelling the rupee to its best gain in over a month, according to traders familiar with the transactions. The Reserve Bank of India’s intervention on Monday was fairly large, with the central bank beginning to sell dollars when the rupee traded near 96.15 per dollar, the people said, requesting anonymity. The rupee rose as much as 0.8% to 95.7838, posting its...
RBI Intervention Lifts Rupee to Strongest Gain in Over a Month
India’s central bank sold dollars in the local currency market, propelling the rupee to its best gain in over a month, according to traders familiar with the transactions.
The Reserve Bank of India’s intervention on Monday was fairly large, with the central bank beginning to sell dollars when the rupee traded near 96.15 per dollar, the people said, requesting anonymity. The rupee rose as much as 0.8% to 95.7838, posting its biggest gain since June 15.