Indian central bank likely offering US dollars to defend rupee – traders

Indian central bank likely offering US dollars to defend rupee – traders

Indian central bank likely offering US dollars to defend rupee - tradersWORLDMiddle EastAfricaIndian Sub-continentChina and Asia Pacific UK and EuropeAmericasRussiaECONOMYGlobalGCCAfricaLevantNorth AfricaISLAMIC ECONOMYIslamic FinanceIslamic BusinessIslamic Finance ReportsIslamic Finance GlossaryBUSINESSAviationBanking & InsuranceCareersEducationEnergyFintechHealthcareHospitalityManufacturingReal EstateRetail & ConsumerTechnology and TelecomTransport and LogisticsTravel and TourismSMEsFinance MarketingTechnologyLegalPeopleMARKETSCommoditiesCurrenciesEquitiesFixed IncomeWEALTHAlternative InvestmentsFundsWealth ManagementSustainabilityLEGALCrime and SecurityImmigrationPolicy RegulationsLIFECultureEntertainmentFoodHealthLeisure & TravelSportsOPINIONBusiness InsightsPROJECTSBRIConstructionIndustryMiningOil & GasUtilitiesSPECIAL COVERAGERamadan and Eid 2023COP 28: Talking Climate in UAEUAE Realty MarketThe Future of CryptosFocus: Global Wealth FundsRussia-Ukraine CrisisMULTIMEDIAGalleriesVideosPRESS RELEASE Companies NewsGovernment NewsPeople in the NewsResearch & StudiesEvents and ConferencesAfrica Press ReleasesAsia Press ReleasesHome page>WORLD>Indian Sub-continent>Indian central bank like...PHOTOThe Reserve Bank of India is likely selling U.S. dollars again to defend the rupee and keep it from sliding to a record low, three traders told Reuters on Thursday.The rupee was at 83.2650 against the dollar, little changed from its close at 83.2575 in the previous session. The rupee, aided by the RBI, held its ground despite weakness in most Asian currencies and higher U.S. yields.The RBI's intervention "was expected", a foreign exchange trader at a private bank said. (Reporting by Jaspreet Kalra and Nimesh Vora; Editing by Sohini Goswami)Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible