RBI Intervenes Heavily to Prop Up Rupee, Strengthens Above ₹88
RBI aggressively sells dollars to stabilize rupee above ₹88.
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21h agoRBI Intervenes Heavily to Prop Up Rupee, Strengthens Above ₹88
The Reserve Bank of India launched aggressive interventions before market open, selling dollars via state banks to support the rupee. The INR bounced from about ₹88.26 to ~₹87.75 against USD. Traders say many stop-losses on dollar longs were triggered, adding momentum to the move. No major external flows were behind it — this was a central bank action. Market interpreted it as a clear message to curb speculative USD bets.
neutral
21h agoRBI Intervenes Heavily to Prop Up Rupee, Strengthens Above ₹88
The Reserve Bank of India launched aggressive interventions before market open, selling dollars via state banks to support the rupee. The INR bounced from about ₹88.26 to ~₹87.75 against USD. Traders say many stop-losses on dollar longs were triggered, adding momentum to the move. No major external flows were behind it — this was a central bank action. Market interpreted it as a clear message to curb speculative USD bets.
neutral
RBI Intervenes Heavily to Prop Up Rupee, Strengthens Above ₹88
about 21 hours ago
1 min read
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RBI aggressively sells dollars to stabilize rupee above ₹88.
The Reserve Bank of India launched aggressive interventions before market open, selling dollars via state banks to support the rupee. The INR bounced from about ₹88.26 to ~₹87.75 against USD. Traders say many stop-losses on dollar longs were triggered, adding momentum to the move. No major external flows were behind it — this was a central bank action. Market interpreted it as a clear message to curb speculative USD bets.
The Reserve Bank of India launched aggressive interventions before market open, selling dollars via state banks to support the rupee. The INR bounced from about ₹88.26 to ~₹87.75 against USD. Traders say many stop-losses on dollar longs were triggered, adding momentum to the move. No major external flows were behind it — this was a central bank action. Market interpreted it as a clear message to curb speculative USD bets.
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economy
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economy
FX
India
central bank
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