INR Vs USD Reserve Bank Of India (RBI) Sold Dollars To Stem Sharp Fall In Rupee, Say Dealers

The Reserve Bank of India likely sold dollars via state-run banks at around 72 rupee to the dollar level to prevent the Indian currency from slipping sharply, two dealers said.

The Indian rupee was trading at 71.88 to the dollar after briefly falling to 72.04 in early trade. It had touched a record low of 72.11 to the dollar on Thursday before closing at 72.00.

© Thomson Reuters 2018

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