✉news BusinessBanking first seen 3 d ago, last 3 d ago, peak #23
India's central bank seen selling dollars to prop up rupee
Original: India central bank likely selling US dollars to further bolster rupee, traders say
Traders believe the Reserve Bank of India has been selling US dollars in currency markets to support the rupee. The reported intervention comes as the Indian currency faces pressure, with the central bank stepping in to limit depreciation. Traders watching exchange rates flagged the dollar sales, saying the moves are aimed at bolstering the rupee's value against the US currency.
Why now: The rupee is under pressure, drawing attention to the central bank's intervention in currency markets.
Reserve Bank of IndiaIndian rupeeUS dollar
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