RBI is seen selling dollars to support rupee to protect the 91.00 level
Newsquawk Staff ·
RBI is seen selling dollars to support rupee to protect the 91.00 level.
What it means
The Reserve Bank of India (RBI) appears to be actively intervening in the currency market by selling dollars to prop up the rupee around the 91.00 level. This move suggests heightened concern over the currency's stability and indicates that the central bank is willing to defend this psychological barrier, potentially impacting broader market dynamics and investor sentiment in the region.
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