From The Economic Times · Atmadip Ray · · 40s
Rupee Recovers After RBI Intervention
RBI intervention lifts rupee to 96.73 but dollar demand persists.
In brief
RBI intervention lifts rupee to 96.73 but dollar demand persists. The rupee recovered to 96.73 per dollar after RBI sold dollars, though companies continued buying dollars at lower levels. Originally reported by The Economic Times.
Rupee Closes at 96.73
The rupee recovered a tad to close at 96.73 a dollar Friday, against the previous close of 96.79.
RBI Intervention
Traders said the central bank intervened heavily selling dollars through large state-owned banks.
Intra-Day High
The rupee touched an intra-day high of 96.51 in the afternoon.
Dollar Demand Persists
Companies were seen covering positions and buying dollars at lower levels.
The one thing
The rupee recovered to 96.73 per dollar after RBI sold dollars, though companies continued buying dollars at lower levels.
