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Indian Rupee Opens 17 Paise Higher on RBI Intervention
The Indian rupee opened at ₹89.0650 per US dollar on Nov. 25, up 17 paise from the previous close of ₹89.2375, as markets expect support from the Reserve Bank of India (RBI). The central bank is reported to have sold around US$7.91 billion in September and holds forward positions of about US$59.4 billion. The upward move marks the second consecutive day of appreciation, amid improved confidence in India’s foreign-exchange strategy and importers stepping in to cover dollar exposure.
Tags:
- economy
- india
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Indian Rupee Opens 17 Paise Higher on RBI Intervention
The Indian rupee opened at ₹89.0650 per US dollar on Nov. 25, up 17 paise from the previous close of ₹89.2375, as markets expect support from the Reserve Bank of India (RBI). The central bank is reported to have sold around US$7.91 billion in September and holds forward positions of about US$59.4 billion. The upward move marks the second consecutive day of appreciation, amid improved confidence in India’s foreign-exchange strategy and importers stepping in to cover dollar exposure.
Tags:
- economy
- india
1 min read
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Indian rupee opened at ₹89.0650/USD, up 17 paise, with likely intervention by RBI after selling ~$7.9 billion in September to stabilise currency.
The Indian rupee opened at ₹89.0650 per US dollar on Nov. 25, up 17 paise from the previous close of ₹89.2375, as markets expect support from the Reserve Bank of India (RBI). The central bank is reported to have sold around US$7.91 billion in September and holds forward positions of about US$59.4 billion. The upward move marks the second consecutive day of appreciation, amid improved confidence in India’s foreign-exchange strategy and importers stepping in to cover dollar exposure.
The Indian rupee opened at ₹89.0650 per US dollar on Nov. 25, up 17 paise from the previous close of ₹89.2375, as markets expect support from the Reserve Bank of India (RBI). The central bank is reported to have sold around US$7.91 billion in September and holds forward positions of about US$59.4 billion. The upward move marks the second consecutive day of appreciation, amid improved confidence in India’s foreign-exchange strategy and importers stepping in to cover dollar exposure.
Tags:
- economy
- india
- economy
- india
- fx
- rupee