05-08-2024 09:48 AM | Source: Reuters
Indian central bank likely selling dollars around 83.80 levels, traders say
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The Reserve Bank of India was likely selling dollars after the rupee dipped to a lifetime low on Monday amid severe risk aversion, four traders told Reuters.
The rupee was at 83.7850 to the U.S. dollar at 9:12 a.m. IST having dipped to an all-time low of 83.80 earlier.
"They (the central bank) are definitely there. Acting exactly the way you would think they would," a trader at a bank said.
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