RBI likely sold dollars to keep rupee from reaching 72-mark: Dealers
Authored By Wion Web Desk
Published: Sep 06, 2018, 06:03 IST | Updated: Sep 06, 2018, 06:03 IST
Reserve Bank of India
Story highlights
The rupee has been hovering near the 72 mark. It is currently at 71.93 to the dollar.
The Reserve Bank of India likely sold dollars to keep the rupee from reaching 72 to the dollar, Reuters quoted two dealers as saying on Thursday.
The rupee has been hovering near the 72 mark. It is currently at 71.93 to the dollar.
The rupee breached the 71 mark a few days ago.
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On Thursday, the dealers cited spurts of dollars sales at the 71.95 level as likely being by India's central bank.
"There is no supply (of dollars) in the market," Reuters quoted a senior forex official at a state-run bank as saying about the sharp fall in the rupee.
(With inputs from Reuters)
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