320-x-100_uti_gold.jpg" alt="Advertisement">
04-09-2024 12:41 PM | Source: Reuters
India central bank likely intervening to prevent rupee from slipping to record low, traders say
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
India's central bank was selling dollars at the 83.97 level on Wednesday to keep the rupee from dropping to a lifetime low, three traders told Reuters.
The rupee was at 83.9650 to the U.S. dollar, avoiding a dip past the lifetime low of 83.9725 hit in the first week of August.
"Consistently seeing offers (on dollar/rupee) at 83.97 (on interbank order matching system) and from brokers," a currency trader at a bank said.
"RBI yet again does not want to see 84."
Latest News
Nail Fashion Trends: The Art of Expressing Style Thr...
Sustainable Living: Tips for a Greener Lifestyle
PM Narendra Modi to attend Christmas celebrations ho...
Government launching 3 apps to protect consumers in ...
Kia to launch compact SUV `Syros` in India next year
GST recommendations to create business-friendly envi...
CII seeks priority sector lending for new and emergi...
The Wealth of Experiences: How Travel and Cultural E...
India`s tax panel rejects airlines` call to add avia...
Rozgar Mela: PM Narendra Modi to distribute 71,000 a...
