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Rupee rallies nearly 1% after RBI intervenes to steady currency
The Indian rupee rose almost 1% intraday after the Reserve Bank of India reportedly sold dollars to prevent a sharp slide in the currency. Traders said heavy intervention helped stabilize the INR amid global outflows and oil-linked weakness. The move follows RBI’s stated intent to maintain currency stability and anchor imported inflation. Analysts believe this action could slow volatility ahead of upcoming CPI data. Exporters remain cautious about a stronger rupee impacting margins while bond yields held steady.
Tags:
- economy
- currency
positive
Rupee rallies nearly 1% after RBI intervenes to steady currency
The Indian rupee rose almost 1% intraday after the Reserve Bank of India reportedly sold dollars to prevent a sharp slide in the currency. Traders said heavy intervention helped stabilize the INR amid global outflows and oil-linked weakness. The move follows RBI’s stated intent to maintain currency stability and anchor imported inflation. Analysts believe this action could slow volatility ahead of upcoming CPI data. Exporters remain cautious about a stronger rupee impacting margins while bond yields held steady.
Tags:
- economy
- currency
1 min read
78 words
RBI intervention lifts rupee nearly 1%, signaling active defense against currency volatility and capital outflows.
The Indian rupee rose almost 1% intraday after the Reserve Bank of India reportedly sold dollars to prevent a sharp slide in the currency. Traders said heavy intervention helped stabilize the INR amid global outflows and oil-linked weakness. The move follows RBI’s stated intent to maintain currency stability and anchor imported inflation. Analysts believe this action could slow volatility ahead of upcoming CPI data. Exporters remain cautious about a stronger rupee impacting margins while bond yields held steady.
The Indian rupee rose almost 1% intraday after the Reserve Bank of India reportedly sold dollars to prevent a sharp slide in the currency. Traders said heavy intervention helped stabilize the INR amid global outflows and oil-linked weakness. The move follows RBI’s stated intent to maintain currency stability and anchor imported inflation. Analysts believe this action could slow volatility ahead of upcoming CPI data. Exporters remain cautious about a stronger rupee impacting margins while bond yields held steady.
Tags:
- economy
- currency
- economy
- currency
- india
- policy