07-03-2024 11:02 AM | Source: Reuters
Indian central bank likely buying US dollars via state-run banks, traders say
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The Indian central was likely buying U.S. dollars via state-run banks, four traders told Reuters on Thursday.
The rupee was last quoted at 82.79 against the U.S. dollar, up from its intraday high of 82.7350. The rupee rose to its highest level in six months, aided by broad weakness in the U.S. dollar and on dollar selling by custodial banks.
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